8th Apr 2009 14:19
Acquisition
RSA acquires Benchmark Underwriting Limited in Ireland
RSA Insurance Group plc announces the acquisition of Benchmark Underwriting Limited in Ireland. Benchmark provides a range of Household and Commercial insurance products and has gross assets of EUR 3m.
Philip Smith, Chief Executive of RSA Insurance Ireland said: "We have a very strong business in Ireland and this acquisition is consistent with RSA's strategy of building leading positions in targeted segments".
-ENDS
For further information:
| Analysts | Press | ||
| Claire Cordell | Thomas Coops | ||
| Tel: +44 (0) 20 7111 7212 | Tel: +44 (0) 20 7111 7047 | ||
| Suzannah Seddon | Simon Kutner | ||
| Tel: +44 (0) 20 7111 7140 | Tel: +44 (0) 20 7111 7327 |
Notes to editors:
About RSA
With an almost 300 year heritage, RSA is one of the world's leading multinational quoted insurance groups. It has the capability to write business in over 130 countries and with major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East and Latin America. Focusing on general insurance, it has around 22,000 employees and, in 2008, its net written premiums were £6.5bn.
RSA Insurance Ireland Limited
RSA is one of the largest general insurance companies in Ireland and a leading provider of Household insurance.
Benchmark Underwriting Limited
Benchmark Underwriting Limited was established in 2004 and provides Personal Household Insurance related products and a range of Commercial Insurance offerings including Retail, Office and Property Owners risks, distributing solely through a network of small brokers. Gross Written Premiums were circa EUR 10m in 2008.
Important Disclaimer
This press release may contain "forward-looking statements" (as defined in the US Private Securities Litigation Reform Act of 1995) with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition, performance and results. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond the Company's control, including amongst other things, UK domestic and global economic business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing impact and other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which the Company and its affiliates operate. As a result, the Company's actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in the Company's forward-looking statements. The Company undertakes no obligation to update any forward-looking statements, save in respect of any requirement under applicable law or regulation. Nothing in this press release shall be construed as a profit forecast.
Copyright Business Wire 2009
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