Royal Bank of Scotland & Churchill Confirms Sale Date

Churchill Insurance Company and the Royal Bank of Scotland have confirmed the sale for the second half of 2012. The Royal Bank of Scotland group has been searching for a buyer for their insurance group for several years now. Insurance brands such as Direct Line, Privilege and Churchill insurance are part of their insurance division. The Royal Bank of Scotland chairman has said that their insurance part of the business has experience a tough time this year. Probably due to the fact that pre Christmas trading was hit by bad weather conditions, which hampered profitability. But profitability is now back to normal levels. It will be interesting to see who finally purchases the Churchill insurance business and what impact this will have on their current policyholders, and what direction the company is taken into in future years.

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