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Royal London to sell international division – reports

Royal London is set to announce the sale of its international division Royal London 360, according to reports.

Sky News reports the mutual insurer will announce the sale of 360, which is based in the Isle of Man, to buyout firm Vitruvian Partners for “tens of millions of pounds” in the next few days.

The sale is expected to involve the transfer of roughly 200 employees and over £2bn in assets under management.

Royal London’s latest results, published earlier this month, show Royal London 360 increased year-on-year sales by 28 per cent in the first nine months of 2013, from £231m in 2012 to £345m this year.



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