6th Feb 2008 09:30
Royal & Sun Alliance Insurance Group plc (R&SA) announces the acquisition ofFyfe Group a UK retail and wholesale intermediary specialising in motor tradeproducts for small businesses. In 2007 it delivered £10.1m of gross writtenpremiums and following the acquisition, R&SA will underwrite 100 per cent ofFyfe's book of business. Bridget McIntyre, UK Chief Executive said: "Fyfe Group has a proven track recordof achieving excellent financial performance. This is an excellent opportunityfor R&SA and with Fyfe Group's understanding of the market, one that willenhance and broaden our sector specialism in motor trade." "This acquisition is perfectly aligned with our strategy of bolt-on acquisitionsthat build distribution or complement our underwriting capability." For further information: \* TAnalysts Press-------------------------------------- -------------------------------------Shona Cotterill Thomas Coops/Sarah Hilyer-------------------------------------- -------------------------------------Tel: +44 (0) 20 7111 7212 Tel: +44 (0) 20 7111 7047/7327-------------------------------------- -------------------------------------Wendy Hardy Simon Moyse (Finsbury)-------------------------------------- -------------------------------------Tel: +44 (0) 20 7111 7140 Tel: +44 (0) 20 7251 3801-------------------------------------- -------------------------------------\* T Notes to editors: 1. Gross assets at 31 December 2007 on a management basis were £3.2m Important disclaimer This press release contains forward looking statements as defined in the U.S.Private Securities Litigation Reform Act of 1995. The forward looking statementsare based on management's current expectations or beliefs as well as a number ofassumptions about future events, and are subject to factors and uncertaintiesthat could cause actual results to differ materially from those described in theforward looking statements. The agreement is subject to the execution ofdefinitive documents by the parties. The Company does not assume any obligationto update any forward looking statements, whether as a result of newinformation, future events or otherwise. Copyright Business Wire 2008Related Shares:
RSA.L