Churchill's new owner, Royal Bank of Scotland (RBS), has revealed that it has no plans to sell broker-only insurer, NIG.
by Tristan O'Carroll
Churchill's new owner, Royal Bank of Scotland (RBS), has revealed that it has no plans to sell broker-only insurer, NIG.
Speaking to Insurance Times an RBS spokeswoman said the insurer was a good fit for the RBS portfolio.
She said: "We have no plans to sell NIG. We see it as a first class broker business."
She added that RBS was on track to meet its results expectations after concluding its deal to buy Churchill.
She said: "RoBS has no plans to merge the Direct Line and Churchill operations. As a strategy, the bank has always found it more appealing to exploit all its brands which are very diverse."
"Churchill has an excellent commercial insurance arm. It has been focusing on the SME market and RoBS and Natwest have very good SME experience. We see a lot of potential there."
