The company was originally established as the insurance division of The Royal Bank of Scotland Group. In September 2012, the Group's Chief Executive, Paul Geddes, announced the business was "operating as a standalone insurance company", in advance of a future full divestment from the RBS Group.[5]The company was the subject of an Initial Public Offering (IPO) in October 2012.[6] RBS sold a 30% share of the business in the IPO, and sold a further 17% in March 2013, reducing its holding in the business to 48.5%. RBS is due to sell the remainder of its holding by the end of 2014.[7]
Operations
The Group owns a number of general insurance brands operating within the United Kingdom, Italy and Germany primarily, including Direct Line, Churchill, and Green Flag.
source: http://en.wikipedia.org/wiki/Direct_Line_Group
No comments:
Post a Comment