Consultants line up to move liabilities to make sale easier

RBS has invited in advisers to carry out a £5bn restructuring of its insurance arm – including Direct Line and Churchill to prepare them for a sale in 2012, the Telegraph reports.

KPMG, PwC, Deloitte and lawyers Norton Rose have all met with management of RBSI.

The strategy would look at a "Part VII" restructuring to simplify its assets allowing a buyer to hold less capital against past risks.

An IPO is thought to be the most likely option for the insurance brands.

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