Royal Bank of Scotland is set to launch an assault on the Chinese motor and household insurance market.
According to a report in the Telegraph, RBS is currently in discussions with Bank of China to cement the move into the general insurance market.
At present, Chinese regulation does not permit banks to offer general insurance products, although this is set to change later this year, with RBS expected to enter the market shortly after the regulatory amendment.
RBS currently holds a 5% stake in Bank of China and has the voting rights for a consortium which owns 10% of China's second biggest bank.
