LONDON (Alliance News) - The Co-op Group is in talks with Markerstudy Insurance Co Ltd about selling its GBP300 million insurance business, according to Sky News.
Sky News is reporting discussions are at an "advanced stage", although a definitive decision to proceed with a transaction has yet to be reached.
Markerstudy is a privately owned insurer which underwrites more than 5% of the UK's motor insurance policies.
The AA PLC, RSA Insurance Group PLC and Saga PLC were all rumoured to have expressed an interest in a deal with the Co-op but Markerstudy is the most likely to seal a takeover of the business.
https://news.sky.com/story/co-op-in-talks-with-markerstudy-about-300m-insurance-sale-11545487
Saga (SAGA)