RSA offloads Canadian arm

RSA ANNOUNCED the sale of its Canadian insurance brokerage last night, confirming a deal that will raise 441m Canadian dollars (£241.4m) for the group as part of a broader offloading.

The group’s sale of Noraxis Capital to Arthur J Gallagher means that RSA has raised about £540m from sales announced since February. Chief executive Stephen Hester said the group would “continue to evaluate further non-core disposals”, suggesting future sales may be in the pipeline.

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