Co-op in talks to sell its insurance business?

According to the latest Sky News report, Britain’s Co-op Group is in talks to sell its insurance business to Markerstudy Group for around £300m.

Talks between Co-op and Markerstudy Group, a privately owned company which underwrites more than 5 percent of the UK’s motor insurance policies, are at an advanced stage, the report adds.

Other rivals like the AA, Aviva, RSA Insurance and Saga have also expressed an interest in the deal, however, sources add that Markerstudy is most likely to seal the takeover of the business.