Royal London 360 to be sold?

Reports in the UK media say a deal to sell off Island-based Royal London 360 is expected to be announced in the next few days.

Sky News claims UK life insurance and pensions provider Royal London will sell its Manx-based division to Vitruvian Partners.

Royal London 360 employs 200 people and has offices in Dubai, Hong Kong and Lebanon as well as its headquarters on Cooil Road in Douglas.

Vitruvian Partners owns a number of businesses, including UK fast food ordering firm Just Eat and TV production company Tinopolis.