Mortgage Industry News

← Back

UK newspaper claims Abbey planning to sell life insurers

Date: Mon, 28 Apr 03 Analysis

LONDON - Abbey National, the UK's sixth largest bank, is planning to divest itself of three of its offshore life insurance businesses, it has been claimed.

The Sunday Telegraph newspaper yesterday published an unattributed report claiming that Abbey will planning the move, as part of the firm's retrenchment of business to focus on core banking operations.

The newspaper claims that Hawkpoint has been appointed to manage the £100 million sale.

The three offshore businesses are Scottish Provident Ireland, Scottish Provident International and Scottish Mutual International.

However, according to AFX news agency, the Abbey National has refused to comment on the claims.

© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.