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IN BRIEF: RSA Insurance director sells shares ahead of takeover

Wed, 21st Apr 2021 14:44

RSA Insurance Group PLC - London-based general insurer - Nathan Williams, group underwriting director, sells 21,552 shares at GBP6.83, worth GBP147,114, on Monday. RSA is in the process of being purchased and divided up by Canada's Intact Financial Corp and Scandinavian insurer Tryg AS. The acquisition is due to complete in the second quarter.

Current stock price: 682.60 pence

Year-to-date change: up 0.8%; up 60% since November 2020 acquisition announcement

By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
18 Nov 2020 07:23

RPT-UPDATE 4-British insurer RSA agrees $9.6 bln takeover by overseas rivals

(Repeats to additional subscribers, no change to text)* RSA chief executive to step down after deal* Tryg would take Swedish and Norwegian businesses* Intact to gain Canadian, UK and international operations* Buyers would co-own RSA's Danish business...

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18 Nov 2020 07:23

UPDATE 1-UK insurer RSA receives 7.2 bln stg cash takeover offer

LONDON, Nov 18 (Reuters) - Britain's RSA Insurance said on Wednesday it had received a cash offer worth 7.2 billion pounds ($9.55 billion)from Canadian insurer Intact Financial and Danish insurer Tryg.RSA said its directors had unanimously backed ...

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18 Nov 2020 07:17

RSA agrees £7.2bn takeover by Intact and Tryg

(Sharecast News) - RSA Insurance has agreed to be bought for £7.2bn by a consortium comprising Intact Corp of Canada and Denmarks' Tryg A/S.

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18 Nov 2020 07:08

UK insurer RSA receives 7.2 bln stg cash takeover offer

LONDON, Nov 18 (Reuters) - Britain's RSA Insurance said on Wednesday it had received a cash offer worth 7.2 billion pounds ($9.55 billion)from Canadian insurer Intact Financial and Danish insurer Tryg.RSA said its directors intended to recommend u...

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17 Nov 2020 18:17

Insurers are trying to escape COVID-19 liability, watchdog tells UK Supreme Court

By Kirstin Ridley and Carolyn CohnLONDON, Nov 17 (Reuters) - Insurers are trying to escape liability for pandemic-related business losses with counter-intuitive arguments that go against the essential purpose of insurance, Britain's markets watchd...

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16 Nov 2020 18:38

UPDATE 1-UK businesses not covered for pandemic, insurers tell Supreme Court

(Adds comments from insurers' lawyers)By Carolyn Cohn and Kirstin RidleyLONDON, Nov 16 (Reuters) - Major insurance companies told the UK Supreme Court on Monday that thousands of small companies battered by the coronavirus pandemic were not eligibl...

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16 Nov 2020 15:02

Insurers cannot provide unlimited cover in pandemic - UK Supreme Court told

By Carolyn Cohn and Kirstin RidleyLONDON, Nov 16 (Reuters) - Major insurance companies told the UK Supreme Court on Monday it was wrong to assume there could be unlimited cover during a pandemic in an appeal closely watched by thousands of British...

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13 Nov 2020 12:26

UPDATE 1-Bank of England warns insurers risk unexpected COVID losses

(Adds more detail)By Huw JonesLONDON, Nov 13 (Reuters) - Insurers in Britain risk being optimistic in estimating losses from COVID-19 related claims and should stress test their underlying assumptions, the Bank of England said on Friday.Insurers i...

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13 Nov 2020 11:07

UPDATE: Intact Reaches Deal To Fund Further Portion Of RSA Deal

UPDATE: Intact Reaches Deal To Fund Further Portion Of RSA Deal

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13 Nov 2020 10:17

Bank of England tells insurers to check COVID loss figures

LONDON, Nov 13 (Reuters) - Insurers in Britain risk being "optimistic" in estimating losses from COVID-19 related claims and should "stress test" their underlying assumptions, the Bank of England said on Friday."Our work has highlighted that a nu...

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12 Nov 2020 14:08

Intact Financial Reaches Agreements To Finance Portion Of RSA Offer

Intact Financial Reaches Agreements To Finance Portion Of RSA Offer

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12 Nov 2020 07:40

UPDATE 2-Insurer Legal & General scales back dividend plans, shares fall

(Recasts with shares, media call)By Carolyn CohnLONDON, Nov 12 (Reuters) - Shares in Legal & General fell more than 3% on Thursday as the British life insurer kept its final dividend payment for 2020 flat due to the coronavirus pandemic and cut it...

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12 Nov 2020 06:00

Goldman hires Barclays banker Bion to ride insurance deal boom -memo

By Pamela BarbagliaLONDON, Nov 12 (Reuters) - Goldman Sachs has poached Barclays' insurance banker Marguerite Bion to win more business from Europe's biggest insurers as industry consolidation heats up amid anaemic profitability and tightening reg...

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10 Nov 2020 13:17

Tuesday broker round-up

(Sharecast News) - On the Beach: Citigroup downgrades to neutral with a target price of 370p.

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10 Nov 2020 09:44

UK BROKER RATINGS SUMMARY: Investec Cuts Barclays; Goldman Raises Next

UK BROKER RATINGS SUMMARY: Investec Cuts Barclays; Goldman Raises Next

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