Insurance Post

RBSI CEO Geddes reveals plan to float in tranches

Paul Geddes

Royal Bank of Scotland Insurance chief executive Paul Geddes has revealed that if it decides to go down the initial public offering route in 2012, this will probably be done in a number of tranches, rather than one offering.

The news came as the group reported a loss of £295m (2009: £58m profit) and a combined operating ratio of 115% (2009: 106%).

However, focusing on the final quarter of 2010, Mr Geddes pointed to some

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