Flying high: Former RBS and RSA boss Stephen Hester to be next Easyjet chairman Former RBS and RSA boss Stephen Hester to be next Easyjet chairman City heavyweight Stephen Hester, who led RBS and insurer RSA, has been named the next chairman of budget airline Easyjet. Easyjet this morning named Hester as its director and chair designate. Hester will join the Board as a non-executive director on 1 September and then he will succeed John Barton as the airline’s chair on [...]
RSA Insurance bought for £7.2bn by Canadian and Danish buyers RSA Insurance bought for £7.2bn by Canadian and Danish buyers A consortium of Canadian and Danish buyers have completed the acquisition of RSA Insurance, in a deal worth £7.2bn. Under the terms of the all-cash deal, Danish buyer Tryg will take over the Swedish and Norwegian arms of RSA, while Canada’s Intact will have the Canadian, British and international businesses. RSA, which owns brands including [...]
Insurer RSA posts profit growth ahead of £7.2bn takeover deal Insurer RSA posts profit growth ahead of £7.2bn takeover deal Insurance group RSA posted a double-digit rise in profit for 2020 ahead of its £7.2bn takeover by a consortium of Canadian and Danish buyers. RSA, which owns brands including More Than, reported operating profit of £751m, up 15 per cent year on year. Group underwriting profit also jumped 36 per cent to a record high [...]
Insurer RSA’s board backs £7.2bn takeover deal November 18, 2020 British insurance giant RSA has recommended its shareholders back a £7.2bn takeover bid by groups from Canada and Denmark, in what could be one of the biggest M&A deals this year. The final bid from Canada’s Intact Financial and Denmark’s Tryg comes after two weeks of speculation, and was confirmed by RSA today. RSA has [...]
Insurer RSA share price rockets after £7.1bn takeover deal approach November 6, 2020 Insurer RSA share price rockets after confirmation of break-up deal talks
RSA, Hiscox and others drop appeal against Covid-19 business interruption insurance payout rulings October 21, 2020 The appeals linked to the Resilience, Eaton Gate Retail, and Eaton Gate Pubs & Restaurants business interruption insurance policies have now been dropped.
Insurer RSA posts double-digit profit rise but expects £25m coronavirus hit May 7, 2020 FTSE 100 insurer RSA today said it expected its exposure from the coronavirus pandemic to total around £25m, with claims coming from travel, wedding and event cancellation insurance. The home, motor and commercial insurer had received around 25,000 claims on which it would pay out, of which around 23,000 were travel claims, it said in [...]
Insurance: Hiscox, Aviva, RSA and Direct Line suspend dividends following Bank of England pressure April 8, 2020 Insurance companies Hiscox, RSA, Aviva and Direct Line have this morning announced the suspension of their dividends after regulatory pressure from the Bank of England. Sam Woods, deputy governor of the Bank’s Prudential Regulatory Authority wrote to chief executives of major insurers on 31 March asking them to “pay close attention to the need to [...]
RSA beats expectations on record year for underwriting profit February 27, 2020 RSA posted a record year for underwriting profit as the insurance giant beat analyst expectations for 2019 after restructuring its international business. The figures The British firm posted an operating profit of £656m, up from £517m in 2018 and ahead of forecasts of £644m. A record year for underwriting profit was the main driver of [...]
RSA Insurance Group’s share price climbs as it sells Latin America business to Suramericana for £403m September 8, 2015 Insurance group and takeover target RSA has sold its Latin American arm for £403m cash. The business, which is currently being wooed by Zurich, has inked the deal with Suramericana, the insurance subsidiary of Grupo de Inversiones Suramericana – more commonly known as Grupo Sura. RSA Latin America had total assets of £1.34bn [...]