ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

RSA Rsa Insurance Group Ld

684.20
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Rsa Insurance Group Ld LSE:RSA London Ordinary Share GB00BKKMKR23 ORD GBP1.00
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 684.20 684.20 684.40 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

RSA Insurance Sells Baltics, Poland Units for $500 Million

17/04/2014 10:10am

Dow Jones News


Rsa Insurance Group Ld (LSE:RSA)
Historical Stock Chart


From Apr 2019 to Apr 2024

Click Here for more Rsa Insurance Group Ld Charts.

LONDON-- RSA Insurance Group PLC is selling its operations in the Baltics and Poland for GBP300 million ($503 million), the latest move by Chief Executive Stephen Hester to turn around the embattled insurer.

RSA, which issued a series of profit warnings last year amid problems at its Irish unit, is selling the divisions to Polish financial services company Powszechny Zaklad Ubezpieczen S.A. as part of its efforts to focus on the U.K. and other core markets.

The disposals follow a string of other recent changes at RSA. Since taking charge of the insurer in February, Mr. Hester, the former chief executive of Royal Bank of Scotland Group PLC, has launched a major fundraising and appointed new executives.

"These disposals are in line with our stated aim of focusing the group's geographical spread onto its core businesses in the U.K. & Ireland, Scandinavia, Canada and Latin America, and represent a good deal for our shareholders, customers and employees," Mr. Hester said.

The businesses being sold include Lietuvos Draudimas in Lithuania, AAS Balta in Latvia, the business of the Estonian branch of Codan Forsikring A/S and Link4 Towarzystwo Ubezpieczen Spolka Akcyjna in Poland.

On Wednesday, RSA said its U.K. chief, Adrian Brown , had agreed to resign after 25 years at the company after deciding he couldn't commit to the group's long-term turnaround plan.

News of Mr. Brown's departure came a day after the insurer appointed Paul Whittaker to the new role of group chief operating officer to lead the completion of its strategic disposals and support its remaining emerging-markets businesses.

Write to Rory Gallivan at rory.gallivan@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


1 Year Rsa Insurance Group Ld Chart

1 Year Rsa Insurance Group Ld Chart

1 Month Rsa Insurance Group Ld Chart

1 Month Rsa Insurance Group Ld Chart

Your Recent History

Delayed Upgrade Clock