Royal & SunAlliance (R&SA) has confirmed it is in the early stage of discussions to sell its UK life insurance business.
The confirmation follows an article in the Financial Times which said Resolution Life Group had put in a bid for R&SA's life operations. It placed a £900m price tag on the business.
“These discussions are at an early stage and the amounts referred to in the press are purely speculative,” the company said in a statement.
“As has been indicated for some time, the group is reviewing options for its UK life insurance operations with respect to releasing capital.”
The troubled insurer announced a review of its stake in Danish life insurer Codan in April of this year.
