Fred Goodwin, chief executive of Royal Bank Of Scotland, is adamant that the bank will achieve it’s desired sale price for it’s insurance business, currently being chased by four of the top players in the UK market.
The auction process favoured by RBS, has left the bank with four bidders, strongly rumoured to include Allianz, Zurich and Travellers.
Goodwin says that RBS had a price in mind when they put the business up for sale and nothing has happened to change that figure.
“We’re determined not to sell this for an undervalue, but at this point that doesn’t look like an option that’s going to come to pass.”
The RBS insurance business which includes Direct Line and NIG has been valued at £7bn.
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