Royal & SunAlliance (R&SA) still plans to release cash from its life fund, it said. The fund is closed to new business.
The move would not happen until management had completed talks with the FSA over the implementation of new solvency rules, revealed chief executive Andy Haste.
“Clearing those issues up means we can have more sensible conversations about the life fund,” he said following the release of the company’s 2003 full year results.
Haste said R&SA management had not yet decided whether to realise capital via a sale, a partial sale, or securitsation of the life fund.
