RSA Ins Grp Disposal
April 01 2015 - 1:30AM
UK Regulatory
TIDMRSA
RSA announces completion of sale of its operations in Hong Kong
and Singapore
Further to the announcement of 21 August 2014, RSA Insurance
Group plc (RSA) today announces the completion of the sale of the
insurance business of each of its branches in Singapore (RSA
Singapore) and Hong Kong (RSA Hong Kong) to Allied World Assurance
Company, Ltd (Allied World). This follows the receipt of all
necessary regulatory and court approvals.
- ENDS -
Enquiries:
Analysts Press
Rupert Taylor Rea Louise Shield
Tel: +44 (0) 20 7111 7140 Tel: +44 (0) 20 7111 7047
Ryan Jones Kaidee Sibborn
Tel: +44 (0) 20 7111 7243 Tel: +44 (0) 20 7111 7137
Notes to editors:
Financial Advisors
Goldman Sachs acted as Sole Financial Advisor to RSA Group
About RSA
With a 300 year heritage, RSA is a multinational quoted
insurance group. RSA has core operations in the UK, Scandinavia,
Canada, Ireland, and Latin America, and has the capability to write
business in around 140 countries. Focusing on general insurance,
RSA has around 19,000 employees and, in 2014, its net written
premiums were GBP7.5 billion.
About Allied World
Allied World Assurance Company Holdings, AG, through its
subsidiaries and brand known as Allied World, is a global provider
of innovative property, casualty and specialty insurance and
reinsurance solutions. Allied World offers superior client service
through a global network of offices and branches. All of Allied
World's rated insurance and reinsurance subsidiaries are rated A by
A.M. Best Company, A by Standard & Poor's, and A2 by Moody's,
and its Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's
and Fitch.
Important Disclaimer
This press release may contain 'forward-looking statements' with
respect to certain of the Group's plans and its current goals and
expectations relating to its future financial condition,
performance results, strategic initiatives and objectives.
Generally, words such as "may", "could", "will", "expect",
"intend", "estimate", "anticipate", "aim", "outlook", "believe",
"plan", "seek", "continue" or similar expressions identify
forward-looking statements. These forward-looking statements are
not guarantees of future performance. By their nature, all
forward-looking statements are inherently predictive and
speculative and involve risk and uncertainty because they relate to
future events and circumstances which are beyond the Group's
control, including amongst other things, UK domestic and global
economic business conditions, market-related risks such as
fluctuations in interest rates and exchange rates, the policies and
actions of regulatory authorities, the impact of competition,
inflation, deflation, the timing impact and other uncertainties of
future acquisitions or combinations within relevant industries, as
well as the impact of tax and other legislation or regulations in
the jurisdictions in which the Group and its affiliates operate. As
a result, the Group's actual future financial condition,
performance and results may differ materially from the plans, goals
and expectations set forth in the Group's forward-looking
statements. Forward-looking statements in this press release are
current only as of the date on which such statements are made. The
Group undertakes no obligation to update any forward-looking
statements, save in respect of any requirement under applicable law
or regulation. Nothing in this press release shall be construed as
a profit forecast.
This information is provided by Business Wire
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