RBS Insurance renamed as Direct Line Group ahead of a possible initial public offering
A sale of the insurance business is being forced by the European Competition Commission in return for the s45.5 billion taxpayer-backed bailout RBS received between 2008 and 2009.
Under the terms of the EU judgement, RBS must sell a stake greater than 51 per cent by 2013 and have made a complete exit from the insurance businesses by 2014.
It is thought the re-branding exercise is an attempt to distance the insurance division from the RBS name.
The newly named group - previously known as RBS Insurance - includes the UK's largest car insurer, Direct Line,as well as the Churchill, Privilege and Green Flag brands.
The combined group earned written premiums of s4.4 billion in 2010 which could see it debut straight into the FTSE 100.
Last April RBS outlined a schedule to sell off its insurance arm by the second half of 2011, however no sale has materialised, despite the bank reporting a "healthy amount of interest" from potential buyers.
RBS Insurance posted a loss of s253 million in 2010, though recovered in 2011 to post a profit of s206million.