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RBS arm renamed to aid sale plan

Royal Bank of Scotland’s insurance division RBS Insurance is to change its name to Direct Line Group as part of plans to find a buyer for the business.

RBS is required to sell the division, which includes the Churchill, Direct Line, Green Flag and Privilege brands and broker business NIG, by the end of 2014 in return for its £45 billion taxpayer bail-out in 2008.

Last month, Churchill and Direct Line were fined £2.17 million by the Financial Services Authority for fudging complaint files.

 

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