RSA announces completion of the sale of its operations in Uruguay
Further to the announcement of 8 September 2015, RSA Insurance Group plc (‘RSA’) announces that it has completed the sale of its operations in Uruguay to Suramericana S.A., the insurance subsidiary holding of Grupo de Inversiones Suramericana (‘Grupo SURA’).
This now fully concludes the disposal of all of RSA’s Latin American businesses. The sale of RSA’s operations in Brazil completed on 29 February 2016; in Colombia on 31 March 2016; in Chile and Argentina on 29 April 2016; and in Mexico on 31 May 2016.
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Rupert Taylor Rea
Director of Investor Relations
Director of External Communications
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Investor Relations Manager
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Notes to editors:
Goldman Sachs International acted as Sole Financial Advisor to RSA.
With a 300 year heritage, RSA is a multinational quoted insurance group. RSA has core operations in the UK & Ireland, Scandinavia, and Canada, and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 17,000 employees and, in 2015, the net written premiums of its core operations were £5.7 billion.
With over 70 years of experience, Suramericana S.A. is a leading insurance and trend/risk management company. It is a subsidiary of Grupo SURA (with an ownership interest of 81.1%) and it also receives the support and backing of its other shareholder, the German reinsurance firm Munich Re, (holding the remaining 18.9% stake). The Company provides comprehensive care for its clients with its SURA brand of insurance and trend/risk management solutions.
Suramericana is now present in a total of 9 Latin American countries (Colombia, Chile, Mexico, Argentina, Brazil, Uruguay, Panama, the Dominican Republic and El Salvador), servicing a total of 17 million clients.
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