1 Jul 2016 07:00
RSA announces completion of the sale of its operations in Uruguay
Further to the announcement of 8 September 2015, RSA Insurance Group plc (‘RSA’) announces that it has completed the sale of its operations in Uruguay to Suramericana S.A., the insurance subsidiary holding of Grupo de Inversiones Suramericana (‘Grupo SURA’).
This now fully concludes the disposal of all of RSA’s Latin American businesses. The sale of RSA’s operations in Brazil completed on 29 February 2016; in Colombia on 31 March 2016; in Chile and Argentina on 29 April 2016; and in Mexico on 31 May 2016.
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Enquiries:
| Analysts | Press | ||
| Rupert Taylor Rea Director of Investor Relations | Louise Shield Director of External Communications | ||
| Tel: +44 (0)20 7111 7140 | Tel: +44 (0)20 7111 7047 | ||
| Ryan Jones Investor Relations Manager | |||
| Tel: +44 (0)20 7111 7243 |
Notes to editors:
Financial Advisors
Goldman Sachs International acted as Sole Financial Advisor to RSA.
About RSA
With a 300 year heritage, RSA is a multinational quoted insurance group. RSA has core operations in the UK & Ireland, Scandinavia, and Canada, and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 17,000 employees and, in 2015, the net written premiums of its core operations were £5.7 billion.
About Suramericana
With over 70 years of experience, Suramericana S.A. is a leading insurance and trend/risk management company. It is a subsidiary of Grupo SURA (with an ownership interest of 81.1%) and it also receives the support and backing of its other shareholder, the German reinsurance firm Munich Re, (holding the remaining 18.9% stake). The Company provides comprehensive care for its clients with its SURA brand of insurance and trend/risk management solutions.
Suramericana is now present in a total of 9 Latin American countries (Colombia, Chile, Mexico, Argentina, Brazil, Uruguay, Panama, the Dominican Republic and El Salvador), servicing a total of 17 million clients.
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.
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