RSA has been bought by Canadian insurer Intact and Danish provider Tryg as scheduled for £7.2bn in cash with CEO Stephen Hester departing.
The High Court of Justice in England and Wales has approved the takeover scheme that will lead to Intact and Tryg buying RSA.
The takeover by Intact and Tryg has cleared all the regulatory hurdles and should complete at the end of May, RSA confirmed as it posted a combined operating ratio of 86% for the first quarter of 2021.
Aviva completes 'refocus' with sale to Allianz; Axa and Tesco join forces; Chubb takeover rebuffed and Bought By Many enters US
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Intact Financial Corporation has confirmed that Scott Egan will stay as CEO of RSA’s UK and international business after its takeover of the insurer, which is scheduled to complete next quarter.
Having worked at RSA for more than two decades, commercial managing director Rob Gibbs has certainly seen his fair share of the business, both in the UK and overseas. He speaks to Jonathan Swift about his latest challenge, navigating a newly combined…
For the Record: Aviva rationalises office space, RSA deal gets greenlight, Miller enters HNW and Corant Global is born
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Clarity on the potential for 200 UK job losses, and more in Scandinavia, is being sought by RSA employee representatives.
RSA's would-be co-owners Intact and Tryg intend to split the insurer once a deal closes. Post investigates what the parties' track records could mean for its future.
RSA has confirmed it is in takeover talks with Canadian insurer Intact Financial Corporation and Danish provider Tryg about a £7.2bn deal that would split up the business.
Finnish insurer Sampo and South African financial services firm Rand Merchant Investment Holdings have agreed a £1.66bn takeover with the directors of Hastings.
Similarly to developments in the auto industry, unmanned seafaring vessels could become prevalent in the future. But today the trend is towards partial autonomy. Valerie Hart looks at the prospects of improving vessel performance and safety, hurdles, and…
Sedgwick has acquired Nordic Loss Adjusting and related entities, for an undisclosed amount.
Exclusive: Beazley is closing its Oslo office next year owing to “challenging” conditions in the energy market.
RSA posted a 15% drop in group operating profit for the first six months of the year as British and Canadian weather losses dent the insurers’ results.
Norwegian insurtech start-up Cloud Insurance is looking to establish an office in London in 2019 as it prepares for a funding round to help it grow the business.
Neon has launched Orca Insurance Agency, a Lloyd’s approved coverholder which will underwrite Nordic marine business on behalf of Neon Syndicate 2468.
The Central Bank of Ireland has ordered CBL Insurance Europe to cease writing business with immediate effect, until further notice.
Marine insurer Skuld and third-party managing agent Asta have received in principle approval from Lloyd’s to establish Agora syndicate 3268.
Arthur J Gallagher has acquired Scandinavian property and casualty broker Nordic Försäkring & Riskhantering for an undisclosed sum.
Compre has acquired a legacy portfolio from the Norwegian insurer Gjensidige Forsikring for an undisclosed sum.
Towergate Underwriting has launched an international managing general agent for Scandinavia.
It is estimated that the Grenfell Tower fire could result in claims of up to £50m. However, the carrier responsible for insuring the building said that its expansion plans for the UK remain undimmed.
The Grenfell Tower blaze could result in property and liability claims of £50m, the Norwegian carrier responsible for insuring the building said.