15th Jun 2009 11:35
RSA completes acquisition of Intouch Insurance Group
RSA Insurance Group plc (RSA) announces the completion of the acquisition of the remaining 50% of Intouch Insurance Group BV from Direct Insurance Financial Investments (DIFI) for €70m in cash, following receipt of formal regulatory approval.
For further information:
| Analysts Claire Cordell Tel: +44 (0) 20 7111 7212 | Press Jon Sellors Tel: +44 (0) 20 7111 7047 | ||||||||||||
| Suzannah Seddon Tel: +44 (0) 20 7111 7140 | Simon Kutner 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 £6.4bn.
About Intouch Insurance Group BV
Intouch Insurance Group BV owns direct insurance operations in Poland, the Czech Republic and Russia. Link 4 was established in Warsaw in 2003 and is the leading Direct insurer in Poland with a 60% share of the direct motor market. Direct Pojistovna, based in Prague was launched in May 2007 and Intouch was launched in Russia in April 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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