Old Mutual May Sell U.S. Life Insurance Business, FT Reports

Old Mutual Plc has hired JPMorgan Chase & Co. to consider a sale of its U.S. life insurance business and has found several possible buyers, the Financial Times said, citing unidentified people familiar with the situation.

Unrealized losses at the U.S. unit narrowed to $600 million at Sept. 30, 2009, from $2.3 billion as of Dec. 31, 2008, and the company said in November it expected to inject up to $300 million to boost its capital, the newspaper reported...

Bloomberg: Old Mutual May Sell U.S. Life Insurance Business, FT Reports