RSAmulls buyout of stricken Fortis, AIGunits with cash call

RSA Insurance is thought to be considering snapping up stricken units of Dutch bank Fortis and US insurer AIG, with the proceeds of a $1bn (&pound;610m) cash call.<br /><br />Andy Haste, chief executive of the insurance giant, is understood to have told financial advisers to investigate the potential acquisitions as part of his controversial expansion plans.<br /><br />JP Morgan and Merrill Lynch, advisers to RSA, are said to have examined beleaguered AIG&rsquo;s Latin American arm as one possible buyout target.<br /><br />Also under scrutiny is said to be Fortis Insurance International, the European and Asian arm of the bank that is now mostly under government ownership.<br /><br />Haste has hinted that assets in these regions may form part of his acquisition strategy.<br /><br />Shares of the firm fell by over 5 per cent earlier this month after it emerged the group is mulling a $1bn rights issue, despite having a healthy balance sheet.<br /><br />Analysts said the move would only make sense if the group was planning to make acquisitions.