2nd Jul 2014 18:15
RSA announces completion of sale of its majority-owned Canadian insurance brokerage business
Further to the announcement of 19 May 2014, RSA Insurance Group plc (RSA) announces the completion of the sale of its shareholding in Noraxis Capital Corporation, its Canadian insurance brokerage business, to Arthur J. Gallagher & Co on 2 July 2014, following receipt of formal regulatory approval.
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Enquiries:
| Analysts | Press | ||
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| Tel: +44 (0) 20 7111 7140 | Tel: +44 (0) 20 7111 7047 | ||
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| Tel: +44 (0) 20 7111 1891 | Tel: +44 (0) 20 7111 7327 |
Notes to editors:
About RSA
With a 300 year heritage, RSA is one of the world’s leading multinational quoted insurance groups. RSA has major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and Eastern Europe and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 23,000 employees and, in 2013, its net written premiums were £8.7 billion.
About Arthur J. Gallagher
Arthur J. Gallagher & Co. is an international service provider and plans, designs, and administers a full array of customised, cost-effective property/casualty insurance and risk management programs. Gallagher has operations in 25 countries and, through a network of correspondent brokers and consultants, offers client-service capabilities in more than 140 countries around the world.
Important Disclaimer
This press release may contain ‘forward-looking statements’ with respect to certain of the Group’s plans and its current goals and expectations relating to its future financial condition, performance results, strategic initiatives and objectives. Generally, words such as “may”, “could”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “aim”, “outlook”, “believe”, “plan”, “seek”, “continue” or similar expressions identify forward-looking statements. These forward-looking statements are not guarantees of future performance. By their nature, all forward-looking statements are inherently predictive and speculative and involve risk and uncertainty because they relate to future events and circumstances which are beyond the Group’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 or regulations in the jurisdictions in which the Group and its affiliates operate. As a result, the Group’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in the Group’s forward-looking statements. Forward-looking statements in this press release are current only as of the date on which such statements are made. The Group 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 2014
Related Shares:
RSA.L