Royal Bank of Scotland is to buy Churchill Insurance from current owner Credit Suisse for £1.1bn in ...
Royal Bank of Scotland is to buy Churchill Insurance from current owner Credit Suisse for £1.1bn in cash, creating the country's third largest general insurer. It could generate considerable cross-selling opportunities for the Scottish bank ahead of the implementation of depolarisation and moves to bring the general insurance market under the umbrella of FSA regulation. RBS chief executive Fred Goodwin says that Churchill "will fit well alongside Direct Line", and will balance DL's strength in motor vehicle insurance with similar strength in the home insurance market. C...
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