Royal & Sun Alliance Life & Pensions is to sell its group risk business to Canada Life for £60 million. Subject to regulatory approval, about 200 staff will transfer to Canada Life when the deal is complete. The Group Chief Executive of R & SA said the sale represented another step in the disposal programme, which was announced to shareholders at the end of 2001. Group risk has been a very successful business but R & SA feel it is time to pass over to a company with a stronger life focus. It is probable that R & SA may well sell more of their companies in the near future, according to an industry source. Friends Ivory & Sime bought Royal & Sun Alliance Investments for £240 million in early 2002, taking on about £30 billion of funds under management.