RSA in talks over life sale
13 April 2012
ROYAL & SunAlliance is in talks with more than one potential buyer for its closed UK life assurance funds, which could sell for £600m.
An agreement last month with the Financial Services Authority over the capital strength of the funds cleared the way for Royal to offload the business.
It is being advised by Goldman Sachs and Lehman Brothers.
Likely bidders include Resolution Life Group, South Africa's Old Mutual, GE Capital of the US and private equity players.
Sources said any deal would be subject to stringent Financial Services Authoprity checks to protect policyholders and is 'months rather than weeks' away.
