According to reports in Britain’s Sunday Times, the U.K.’s fifth largest insurer, Royal & Sun Alliance (RSA), hopes to list its shares on the New York Stock Exchange as soon as this fall, and is engaged in discussions with U.S. regulators and NYSE officials concerning the details.
RSA does substantial business in the U.S. in commercial lines, including workers’ compensation, specialty insurance and personal lines. It’s ranked among the top 25 U.S. P/C insurers.
American-born Chief Executive Bob Mendelsohn has repeatedly denied rumors that the company was a takeover target, and has stressed that RSA is “big enough to compete in the general insurance market on its own.”
The U.S. listing reflects Mendelsohn’s focus on increasing the globalization of the company and its worldwide activities. The public offering would also provide capital for further expansion in the U.S. market.
Topics USA
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