RSA announces completion of the sale of its minority holding in India
Further to the announcement of 18 February 2015, RSA Insurance Group plc (RSA) today announces the completion of the sale of its 26% holding in Indian insurer Royal Sundaram Alliance Insurance Company Limited to Sundaram Finance Limited, its majority stakeholder. RSA received proceeds of £46m and expects to recognise a profit on disposal of approximately £17m.
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|Rupert Taylor Rea||Louise Shield|
|Tel: +44 (0) 20 7111 7140||Tel: +44 (0) 20 7111 7047|
|Ryan Jones||Kaidee Sibborn|
|Tel: +44 (0) 20 7111 7243||Tel: +44 (0) 20 7111 7137|
Notes to editors:
With a 300 year heritage, RSA is a multinational quoted insurance group. RSA has core operations in the UK, Scandinavia, Canada, Ireland, and Latin America, and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 19,000 employees and, in 2014, its net written premiums were £7.5 billion.
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