NU in talks to acquire Barclays insurance arm
Barclays Bank has revealed that negotiations are underway to sell Gresham Insurance, which it bought today from Legal & General, to Norwich Union as it seeks to boost its share of the general insurance market. If negotiations are succesful NU would become the single supplier for all Barclays’ GI products.
Barclays currently distributes motor and travel insurance products sourced from Norwich Union and home insurance sourced from Legal & General. Commenting, Mike Rogers, managing director, RetailOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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