LONDON (Reuters) - Rivals are circling Royal Bank of Scotland's insurance arm as a bid deadline approaches, but aside from Zurich Financial Services, few may have the desire and firepower to buy Britain's largest motor insurer.
RBS Insurance was put on the block last month as part of the bank's plan to shore up its balance sheet, alongside a 12 billion pound rights issue.
The insurer is an eye-catching asset -- one of the most efficient players in a cut-throat market, and home to attractive brands, including Direct Line and Churchill. It's expected to fetch between 6 billion and 7.5 billion pounds.
But financial pressures on a sector battered by the credit crunch, the ultra-competitive UK market and the sheer size of the business is likely to cool many suitors from going beyond the first round, due to close on May 28.
Before You Start
- Think about how you would pay for routine expenses if you or another income-earning adult in your home were to suffer a disability and stop working?
- Ask your employer whether disability income insurance is offered as an optional workplace benefit.
- If you're an employer, consider offering it as a benefit to attract and retain desired workers.
- If you already own disability income insurance, take a fresh look at the policy to learn about the level of coverage it provides, eligibility requirements, etc.
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