RSA News

Insurers Ink $90 Billion in Merger Deals as They Pursue Post-Coronavirus Clout

Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides. The takeover of RSA Insurance Group Plc and Allstate Corp.’s largest acquisition ever have helped push industry deals announced …

Canada’s Intact Financial Caps Decade of Acquisitions with $9.4 Billion RSA Deal

After a decade of buying up rivals to become Canada’s largest property and casualty insurer, Intact Financial Corp. is looking across the Atlantic with its biggest deal yet. Intact sealed an agreement Wednesday to buy the Canada, UK and international …

UK Insurer RSA Accepts $9.6 Billion Cash Takeover Offer

Canada’s Intact Financial and Denmark’s Tryg on Wednesday said they had reached an agreement to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) in cash in one of Europe’s biggest financial takeovers this year. Insurers have become …

The $9.5 Billion Takeover Offer for RSA May Be Too Good to Refuse: Opinion

A takeover offer that would have been so-so in February becomes impossible to refuse for a company whose shares have been hit by the pandemic. The 7.2 billion-pound ($9.5 billion) approach for RSA Insurance Group has been shrewdly pitched by …

RSA Ireland Names Thompson from Insurance Ireland as CEO

Kevin Thompson has been appointed chief executive of RSA Ireland after being approved by the regulator Central Bank of Ireland. He will replace Ken Norgrove, who is moving to the role of CEO of Codan/Trygg-Hansa, RSA Group’s Scandinavian business. Thompson …

U.K. Insurer RSA Merges Commercial Risk Solutions, Global Risk Solutions Businesses

RSA UK & International has merged its Commercial Risk Solutions (CRS) and Global Risk Solutions (GRS) businesses to create a single business unit focused on commercial lines. This move follows another restructuring in 2016 when the two divisions — CRS …

UK’s RSA Insurance Posts Above-Forecast Profit of $920.2M in 2017

Even higher payouts for RSA shareholders are likely in 2018, chief executive Stephen Hester said on Thursday after the company posted an above-forecast 2017 operating profit and boosted its dividend by 23 percent. Analysts had been looking for a special …

RSA Taps Swiss Re’s Buckle to Lead Global Risk Solutions; Gibbs Promoted to Head Commercial Risk Solutions

RSA’s UK & International business has appointed Tony Buckle and Rob Gibbs as managing directors of Global Risk Solutions (GRS) and Commercial Risk Solutions (CRS), respectively. Tony Buckle will join RSA on Feb. 1, 2018 to head up GRS, which …

UK to Alter ‘Ogden Rate’ Used to Calculate Personal Injury Payments

Britain plans to alter the rate used to calculate upfront personal injury payments, the Ministry of Justice said on Thursday, a move which will reduce those payments and insurance premiums. Motor insurers’ profits were dented and insurance premiums have risen …

RSA Names Former Aspen Executive Khaitan as COO for Global Risk Solutions

RSA Insurance has appointed Anny Khaitan as chief operating officer (COO) for its Global Risk Solutions (GRS) business. Khaitan is responsible for GRS’ operations, change, IT and risk & compliance across offices in the UK, Europe & DIFC. She reports …