History
The company was originally established as the insurance division of The Royal Bank of Scotland Group. In September 2012, the Group's Chief Executive, Paul Geddes, announced the business was "operating as a standalone insurance company", in advance of a future full divestment from the RBS Group. The company was the subject of an Initial Public Offering in October 2012. RBS sold a 30% share of the business in the IPO, and announced plans in March 2013 to sell a further 15.3%. This will eventually leave RBS with a 49.99% holding.
Read more about this topic: Privilege (insurance Company)
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