Capita to Sell Specialty Insurance Businesses for Undisclosed Sum

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Written by Ian Walker

Capita PLC said Tuesday that it is selling its specialist insurance business to Marco Capital Holdings (UK) Ltd. for an undisclosed amount.

The support services company said the sale was part of its plan to sell non-core businesses. It is targeting 700 million pounds ($956.5 million) of sale proceeds by June next year.

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Sale is subject to regulatory approvals.

“Today is another step towards a more focused and sustainable business for the long term,” said CEO John Lewis.

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Write to Ian Walker at ian.walker@wsj.com

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