First tranche could be sold off in October
Royal Bank of Scotland is set to confirm its intention to list Direct Line Group (DLG) on the London Stock Exchange as early as tomorrow, says Reuters.
The flotation will value the business at around £3bn, according to analysts.
The sale, which was ordered by European regulators, is being led by Goldman Sachs, Morgan Stanley and UBS.
RBS is likely to implement a three-tranche sale of Direct Line - one this year, one next year and a final sale in 2014.
The first flotation could take place in October depending on market conditions, said a source.
RBS Group and DLG declined to comment.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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