trending Market Intelligence /marketintelligence/en/news-insights/trending/oqg6B5r_hF7UJbwsiwUwcQ2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Report: Direct Line eyeing £400M bid for Legal & General business

Blog

Tracking Credit Risk of a Major U.S. Retailer

Corporate America Not Likely To Unwind COVID-19 Debt Buildup Despite Credit Hits

Blog

Q&A: Navigating Climate Risk as a Financial Risk

Infrastructure Issues: Tools to Dig Deep on Potential Risks


Report: Direct Line eyeing £400M bid for Legal & General business

Direct Line Insurance Group PLC is mulling whether to make a £400 million offer for the general insurance business of Legal & General Group PLC, Sky News reported.

Direct Line's interest in Legal & General's home and contents cover division is still in the early stages and may not result in a formal bid, sources reportedly told Sky News.

Other insurers and financial investors are also reportedly assessing offers for the business, although Aviva PLC is reportedly not among them. The division is seen as noncore by Legal & General CEO Nigel Wilson, according to Sky News.

Investment bankers from Fenchurch Advisory Partners are managing the sale of the business. Direct Line and Legal & General declined to comment to the news outlet.

Sky News also reported that Direct Line is close to naming a successor to CEO Paul Geddes, who is set to leave in summer 2019.