RSA Insurance purchase remaining 50% in Intouch Insurance
Recently RSA Insurance Group has signed a framework agreement to acquire Direct Insurance Financial Investments’s 50% holding in Intouch Insurance Group, which is a joint venture with direct operations in Poland, the Czech Republic and Russia for GBP70 million in cash.
According to RSA Insurance Group, the proposed investment is dependable with its emerging markets’ strategy to develop its direct distribution capability and its focus on motor as a core scheme. The British Insurance company said that the agreement is non binding and achievement of the transaction is subject to a number of conditions including attaining regulatory approvals.
The RSA Insurance Company was formed following the merger of Sun Alliance and Royal Insurance in 1996 but re-branded under the RSA brand in April 2008.
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