RSA considering sale of its Latam business - FT
March 16 (Reuters) - British insurer RSA Insurance Group Plc is considering selling its business in Latin America as part of a broad restructuring plan, the Financial Times reported.
RSA has appointed Goldman Sachs to handle a potential disposal of the business, the newspaper reported. (on.ft.com/1Fs7EIB)
Chief Executive Stephen Hester, who joined a year ago, set out plans last year to raise up to 1.6 billion pounds in capital, tapping shareholders for nearly half and making up the rest from selloffs and money saved by scrapping the company's dividend.
RSA said in February that it had raised 800 million pounds in sales so far, but its Middle East, Russia and U.K. legacy businesses remain on the list for potential sale.
The company also said it had sold its 26 percent holding in Indian insurer Royal Sundaram Alliance Insurance Company for 46 million pounds in cash to its joint venture partner Sundaram Finance.
RSA said it does not comment on such reports.
(Reporting by Rama Venkat Raman in Bengaluru; Editing by Alan Crosby)
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