Private equity buyout for Direct line and Churchill?
Former Towergate and NU boss Patrick Snowball has been linked with a speculated buyout of RBS’s insurance division, which includes Direct Line and Churchill.
Unconfirmed reports link Snowball with private equity firm BC Partners in the bid.
Others said to be interested include US insurer Allstate and private equity groups CVC – linked with Swiss Re. CVC is said to be in advanced talks about buying just over half the insurance division in a deal that would value it at about £6bn.
