Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

RBS To Launch IPO Of Direct Line Insurance - Quick Facts

9/14/2012 2:10 AM ET

Royal Bank of Scotland Group Plc (RBS.L,RBS: Quote) announced its intention to launch an IPO of Direct Line Insurance Group Plc in an all-secondary offering of Direct Line Group shares to be sold by RBS.

Bruce Van Saun, Group finance director of RBS, commented, "We are pleased to confirm today our intention to commence an IPO of Direct Line Group. Direct Line was launched more than 25 years ago as a pioneer of direct motor insurance and it has grown to become the market leader in UK personal lines insurance. We believe it has a strong future as a standalone insurance group continuing to serve its customers well while delivering attractive returns to investors."

Click here to receive FREE breaking news email alerts for Royal Bank of Scotland Group PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
There was a mixed performance on Wall Street on Friday. Shares suffered an early decline, as investors continued to express worries about the Federal Reserve. A recovery through the rest of the day allowed the Dow to edge into positive territory by the close. The Nasdaq and S&P 500 posted fractional losses. Stocks have shown a notable move to the downside in early trading on Friday amid lingering concerns about the outlook for the Federal Reserve's asset purchase program. The major averages have slid firmly into negative territory, adding to the modest losses posted in the previous session. The major averages are currently posting notable losses, near their lows for the young session. After reporting a sharp drop in new orders for manufactured durable goods in the previous month, the Commerce Department released a report on Friday showing that durable goods orders rebounded by more than anticipated in the month of April. The report said durable goods orders surged up by 3.3 percent in April after tumbling by a revised 5.9 percent in March.
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.