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
Pet insurance insurtech Bought By Many has appointed Julia Ingall as its first global chief people officer ahead of a recruitment drive to help international expansion.
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.
Pet insurance provider Bought by Many will be changing its branding to Many Pets in markets outside of the UK, chief financial officer Luisa Barile told Post.
Finnish insurer Sampo and South African financial services firm Rand Merchant Investment Holdings have agreed a £1.66bn takeover with the directors of Hastings.
The Financial Conduct Authority has today denied there is any conflict of interest in relation to the law firm engaged on its business interruption test case.
Hiscox could look to an analysis of the Covid-19 economic impact on Sweden versus the UK, which its counsel said has faced “draconian” lockdown measures, as a defence in the Financial Conduct Authority’s business interruption test case.
In the latest Insurance Post and Insurance Age video cast brought to you while our journalists are working from home, we present the first in a series of newsmaker specials focusing on the people behind the lockdown headlines.
Pet insurance specialist Bought By Many has secured $98m (£78.4m) in growth equity investment led by FTV Capital, having agreed terms sheets with the US growth equity investment firm and five other potential investors prior to Covid-19 lockdown.
Analysis: What are insurtechs doing in the face of the coronavirus pandemic – Part Two: Pan-European start-ups?
In light of the coronavirus pandemic, Post content director Jonathan Swift caught up with a number of insurtechs to find out what they are doing to reduce staff and client’s exposure to Covid-19, while keeping operations as business-as-usual as possible…
Exclusive: Bought By Many has appointed former Prudential UK CEO Jim Sutcliffe to chair the company.
Pet insurance insurtech Bought By Many has engaged with a number of larger funds as it edges towards a Series C fundraising round in the coming months, CEO Steven Mendel told Post.
As Markel International gears up for more growth across its national markets business and looks to build on its presence in Europe, Jen Frost spoke to Markel International president William Stovin about the history of the business and why Brexit has…
Sedgwick has acquired Nordic Loss Adjusting and related entities, for an undisclosed amount.
In February, Post held a roundtable, in association with Aquarium Software, to examine the state of the UK pet insurance market, touching on issues from consumer education and pricing, to how data and technology may revolutionise the 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.