The Co-operative Group could sell its life insurance business, according to press reports.

The mutual is weighing up its options after its financial services business, CFS, merged with the Britannia building society.

It has appointed Deutsche Bank to find buyers for the business, which provides cover to almost three million customers and controls assets worth £18bn.

Insurance giants Legal & General and Aviva are reportedly among those to have been sounded out as potential bidders.

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