Goldman to sell Rothesay stake

Goldman Sachs is planning to sell a majority stake in its European insurance business over the next year, according to a filing. The UK-based life insurer, Rothesay Life, was established in 2007 and is currently run by Goldman partner Addy Loudiadis. As of June this year, Rothesay had $9.66bn (£6.2bn) in assets, Goldman said in the filing yesterday. Last year, the company earned a pre-tax operating profit of £266m.