General Insurance Article - RSA sells Dutch Caribbean unit


 UK insurance group RSA is selling its Dutch Carribean unit to Fatum General Insurance for an undisclosed sum.The unit, Royal & Sun Alliance Insurance (Antilles), wrote £15m of gross premium in 2011.

 The transaction is subject to regulatory approval from Curacao, Sint Maarten, Aruba and the Islands of Bonaire, Sint Eustatius and Saba.

 RSA chief financial officer Richard Houghton said: “While relatively small in terms of the group’s capitalisation, today’s announcement is further evidence of our determination to utilise our capital wisely and only focus on territories where we can achieve scale and deliver attractive returns to shareholders. In the majority of our markets we are already achieving our objectives but where we see no strategic fit or route to outperformance, we are committed to taking decisive action.”

Back to Index


Similar News to this Story

Call for simplification of EU cybersecurity regulation
Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporti
7 California wildfire lessons learnt for European insurers
The devastating January 2025 wildfires in Los Angeles, which destroyed over 16 000 structures and caused insured losses of approximately USD 40 billio
Do not be left high and dry this summer
Aviva is urging caution as data reveals a correlation between warm weather and fire claims. Number of garden fire claims is already significantly high

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.