Canadian and Danish consortium completes £7.2bn RSA Insurance acquisition
Topics: RSA INSURANCE
Under the terms of the all-cash deal, Danish buyer Tryg will take over the Swedish and Norwegian arms of RSA, while Canada’s Intact will have the Canadian, British and international businesses.
RSA is in the process of de-listing from the London Stock Exchange, with shareholders entitled to receive 685 pence in cash for each share held.
RSA group chairman Martin Scicluna said: “RSA has provided peace of mind to individuals and protected businesses from risk for more than 300 years.
“That history has seen significant consolidation in the insurance industry, and we believe that RSA’s businesses, customers, employees and other stakeholders will prosper under the stewardship of Intact and Tryg, two great businesses with long histories and reputations.
“The acquisition of RSA has delivered attractive, certain value for our shareholders and I wish Intact and Tryg every success for the future.” ■