(Reuters) – Britain’s largest motor insurer Direct Line <DLGD.L> indicated it is interested in making a 400 million pound bid to buy Legal & General Group’s <LGEN.L> general insurance unit, Sky News reported on Wednesday, citing City sources.
A number of insurers and financial investors are considering offers for the unit, which is seen as non-core by the British insurer, Sky News said https://news.sky.com/story/direct-line-plots-400m-bid-for-legal-general-unit-11585904.
L&G has been plotting the sale of the unit for a few weeks now, a source told Reuters.
Direct Line and L&G were not immediately available for comment.
(Reporting by Tanishaa Nadkar and Noor Zainab Hussain in Bengaluru and Dasha Afanasieva in London; Editing by Shinjini Ganguli)