COMPANIES Citigroup is to list a minority stake in its door-to-door insurance unit Primerica, in a move that could raise hundreds of millions of dollars and further distance the troubled bank from the financial giant assembled by its former chief Sandy Weill.
The decision to sell Primerica shares on the stock market, which was announced yesterday, comes after Citi failed to sell the business to private equity groups or rival insurers despite having put the unit on the block months ago, bankers said.
