LONDON: The insurer has recruited Fenchurch Advisory Partners to oversee the sale.
UK General is believed to be in discussions with prospective buyers for its personal lines schemes business.
The insurer has recruited Fenchurch Advisory Partners, a corporate finance advisory firm, to handle the sale process.
It is not thought that a sale, if one takes place, is likely to happen in the near future. UK General has said it doesn’t comment on market speculation.
Demand
Group CEO Peter Hubbard said earlier this year that the schemes division recorded a gross written premium (GWP) of £362m for the year to the end of March compared to £338m in the previous 12 months.
He added that in schemes the opportunities for being specialist continue to grow with brokers highlighting increasing demand in the field.
UK General’s other two businesses commercial and Rural Insurance posted GWP of £28m and £37m respectively for the year to the end of March.
