Two bookrunners in line for fees of up to £200m (€249.9m) from running Royal Bank of Scotland’s £12bn rights issue have picked up additional mandates to advise the UK financial group on the sale or partial disposal of its insurance business, according to a source close to the situation.

Goldman Sachs and Merrill Lynch are advising RBS on the potential sale of its insurance businesses, including Churchill and Direct Line, which could raise as much as £5bn for the bank.