The UK-based Royal & SunAlliance Insurance Group has acquired Sertus Underwriting Limited in Ireland. It has already obtained local regulatory approval for the deal.
“Sertus Underwriting Limited is a well-established business within the Irish motor and household insurance market,” said the announcement. “In 2007 it achieved gross written premiums of €16.5 million (£11.3 million – app. $26 million).
R&SA described the acquisition as consistent with its “strategy in Ireland of building leading positions in targeted segments.”
Simon Lee, Chief Executive of Royal & SunAlliance International Businesses, commented: “We have a strong business in Ireland and a track record of delivering profitable performance. This transaction represents an exciting opportunity to combine technical excellence with strong distribution and supports the delivery of our objective of sustainable, profitable performance”.
Source: Royal & SunAlliance – http://www.royalsunalliance.com
Topics Mergers & Acquisitions
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