Deutsche Bank is proposing to sell a business unit that helps pension funds protect themselves against the risk of their members living longer than expected. However, no formal decision has been taken in this regard, according to news reports. The unit, Abbey Life unit, is based in Bournemouth, U.K and a sale may fetch as much as 3 billion pounds. Deutsche Bank is waiting to hear how much capital the European Central Bank will require lenders to hold against risk from their insurance units. Regulators are requiring banks and insurers to build larger buffers to help them weather losses and avoid a repeat of the financial crisis of 2008, in which taxpayers had to step in to their rescue.
