28th Apr 2011 09:30
IMMEDIATE 28 April 2011
Acquisition
RSA acquires Oak Underwriting
RSA Insurance Group plc (RSA) announces the acquisition of Oak Underwriting plc, an established and fast growing underwriting agency specialising in high net worth insurance.
-ENDS
For further information:
| Analysts | Press | ||||||||||||||||
| Claire Cordell | Louise Shield | ||||||||||||||||
| Tel: +44 (0) 20 7111 7212 | Tel: +44 (0) 20 7111 7047 | ||||||||||||||||
| Bart Nash | |||||||||||||||||
| Tel: +44 (0) 20 7111 7336 |
Notes to editors:
1. Oak Underwriting plc is being acquired from Somerville Underwriting Holdings Limited.
2. As at 30 June 2010, Oak Underwriting had gross assets of approximately GBP 7m.
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 over 130 countries. Focusing on general insurance, RSA has around 22,000 employees and, in 2010, its net written premiums were £7.5 billion.
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 and other 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.
Issued by RSA Insurance Group plc, 9th Floor, One Plantation Place, 30 Fenchurch Street, London EC3M 3BD
Copyright Business Wire 2011
Related Shares:
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