Insurance policy

Don’t count on Royal Bank of Scotland saying goodbye to its insurance arm. The bank has put the business, including the Direct Line brand, up for sale as part of a strategy to raise its core capital ratio above 6.0%. But the £7bn ($14bn) price tag RBS is holding out for is super-ambitious. Either Sir Fred Goodwin, the RBS chief executive, doesn’t want to sell or he’s keeping his options open. At the asking price, Direct Line would be Europe’s second largest insurance deal ever, and its biggest ...