R&SA chief executive Andy Haste said the company had not yet decided whether it would sell its stake in Danish life company Codan.
R&SA, which has a 71.5% stake in the company, confirmed that it had received approaches for Codan which it said it was duty bound to consider. But Haste denied that the company had been put up for sale.
R&SA’s involvement in Codan is valued at £730m.
