According to a report in Britain’s Sunday Observer, U.K. insurer Royal & Sun Alliance is in talks with Holland’s Aegon to sell its life insurance business and possibly its fund management operations. The Dutch financial services giant already has substantial life and pension operations in the U.K., and is seeking to expand them as a new market opens up for government sponsored low-cost flexible old-age pensions.
Neither company has commented on the report, but RSA CEO Bob Mendlesohn recently indicated that the company intended to concentrate its efforts on expanding its general insurance operations.
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