The Co-op Group is assessing its options, but has reportedly already spoken with potential buyers

The Co-op Group is reportedly looking to sell it’s insurance arm for £300m.

Co-op has appointed investment bankers from Fenchurch Advisory Partners to advise on options for the insurance business, Sky News is reporting.

The report says a final decision on whether to sell is yet to be made, but that Co-op has already begun approaching potential acquirers.

Any sale is expected to result in “significant redundancies”, but sources told Sky News any buyer would have to commit to continuing to sell insurance products in the long-term under the Co-op brand.

The group is reportedly looking to free up capital tied up in the insurance business to invest in other growth areas.

The Co-op Group were contacted by Insurance Times but declined to comment.

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