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RBS wants ex-Aviva FD to chair insurance arm - Sky
March 20, 2012 / 12:52 PM / 6 years ago

RBS wants ex-Aviva FD to chair insurance arm - Sky

LONDON, March 20 (Reuters) - Royal Bank of Scotland has offered the role of chairman at Direct Line Group, the insurance unit it has earmarked for disposal, to Mike Biggs, a former finance director at insurer Aviva, Sky News reported on Tuesday.

Biggs, who is currently chairman of insurance-focused takeover specialist Resolution, has not yet formally accepted the job, the broadcaster said.

RBS declined to comment.

RBS, ordered by European regulators to offload the insurance division as payback for state aid it received in the 2008 crisis, has until the end of 2013 to sell or float the business, which includes Britain’s biggest motor insurer.

The unit, renamed Direct Line Group after its best-known Direct Line brand, also owns home and motor insurer Privilege and the Green Flag roadside recovery service.

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