Lloyds Banking Group is reported to be lining up the cut-price sale of a German insurance business as it looks to slim down its international presence.
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Not all of that business is due to annuities, of course. The company sells life insurance, too. But the numbers shed some light on why advisors are concerned about a possible sale — i.e., the company has a definite presence.
According to sources, Lloyds Banking Group has prepared the sale of Heidelberger Leben to Hannover RE, following disposals of other businesses in the overseas market.
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Lloyds Banking Group is reported to be lining up the cut-price sale of a German insurance business as it looks to slim down its international presence.
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