Lloyds has announced that it is offloading its German life insurance business as it continues to downsize its international footprint, but will take a big loss in doing so.The UK bank said that the sale "is in line with the group's strategy of rationalising its international presence and ensuring value for shareholders". However, the company said it will lead to a loss on disposal of around £330m.Heidelberger Lebensversicherung, with gross assets of €7.2bn, is a provider of unit-linked pension, investment and life assurance products in Germany.It is to be sold to a joint venture company owned by Cinven Partners and Hannover Rück for €300m in cash (around £250m).The German unit reported a loss of £38m in 2012.Lloyds said: "The sale of Heidelberger Leben is expected to lead to a loss on disposal of approximately £330m in the group's accounts but, combined with the sale of other assets, is currently expected to result in a benefit to the group's common equity tier 1 capital of approximately £0.4bn upon completion, equivalent to an approximate benefit of 13 basis points on a pro forma fully loaded CRD IV basis."Lloyds also announced on Wednesday that it is to sell a portfolio of leveraged loans - mainly comprised of UK-based assets in a range of sectors including manufacturing and retail - to Goldman Sachs' subsidiary, ELQ Investor. ELQ will pay £254m in cash for the portfolio and a further £2.0m within six months if certain financial conditions are met. The disposal is said to be a continuation of its non-core asset reduction strategy and should also lead to a small increase in Lloyds' core tier-1 capital buffer.BC