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RBS to retain RBS Insurance

RBS has decided to retain its RBS Insurance division and is no longer in discussions with interested parties regarding a possible disposal of the business.

RBS is undertaking a strategic review with the aim of refocusing the group on those businesses that have a clear competitive advantage, credible future growth opportunities from strong customer franchises and which generate appropriate risk-adjusted returns.

After careful consideration, the Board of RBS believes RBS Insurance meets these criteria and that it is in the best interests of shareholders for the group to retain the business.

Stephen Hester, group chief executive, says: “Given RBS’ broader considerations, it was important to test the market for this business which has demonstrated that a sale on terms currently available would destroy value for RBS’ shareholders.

“RBS Insurance benefits from a leading market position, strong cash generation and low capital requirements. It does not absorb funding or risk-weighted assets and is not closely connected to the credit cycle. It is an impressive, well-run business with great people and excellent customer franchises. It can play an important role as we return the RBS Group to standalone strength.”


We may as well let Nick Leeson hand out bailout cash

I am aware that readers might be getting fed up of me raving on about the lack of direction some banks are receiving from their new owner UK plc, but I hope they will forgive me for mentioning the following incident.

Cool guy

With much of Britain brought to a standstill by what was widely described as “the worst weather for 20 years” – otherwise known as a couple of inches of snow and a chilly wind – Mole hears there was a North-South divide in how professionals coped.

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Changes to capped drawdown tables

The tables used for capped drawdown maximum income calculations have been updated. We look at the reasons for the change and what the impact could be. Changes to capped drawdown tables Capped income drawdown involves taking a pension directly from a fund instead of buying an annuity. However, there’s a limit on the maximum amount […]


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