Takeover of RSA

RSA Insurance Group Plc was purchased by Tryg A/S and Intact Financial Corporation on 1st June 2021.

How RSA’s businesses are now owned

RSA was comprised of three divisions; Canada, Scandinavia, and UK & International (the UK, Luxembourg, Ireland and Middle Eastern businesses). These are now owned in this way:

- Tryg A/S has taken ownership of RSA’s former Swedish and Norwegian business, Trygg-Hansa and Codan Norway.

- Intact Financial Corporation owns RSA’s Canadian and UK & International businesses.

- RSA’s Codan business in Denmark, is jointly owned by the two parties on a 50/50 economic basis.

 

Timeline of the offer to buy RSA

  • November 2020: RSA Insurance Group Plc Board confirms receipt of an offer to buy the business from Intact and Tryg, and confirms intention to recommend the offer to shareholders.

  • January 2021: RSA shareholders vote to approve the takeover.

  • January – May 2021: All parties continue due diligence and approval processes required to reach conclusion of the deal.

  • June 1st 2021: Intact and Tryg formally take ownership of RSA.

Frequently asked questions

When was RSA bought?

An offer was received from Canadian firm Intact, and Danish business Tryg last year to buy RSA Insurance Group Plc. This offer was accepted by RSA’s shareholders in January 2021 and following receipt of relevant regulatory and other approvals the transaction has now completed and the ownership of RSA’s businesses has changed as described below.

What does that mean for the RSA businesses?

RSA was comprised of three divisions; Canada, Scandinavia, and UK & International (the European, Irish and Middle Eastern businesses). Tryg now owns the Swedish (Trygg-Hansa) and Norwegian (Codan) businesses and Intact owns the Canadian and UK & International businesses. RSA’s Codan business in Denmark, will be jointly owned by the two parties on a 50/50 economic basis.

What happens to holders of RSA’s ordinary shares?

The ordinary shares in RSA Insurance Group plc have been transferred to the buyer.

Where can RSA shareholders get information about their share holdings?

Shareholders of RSA Insurance Group Plc, can find out more about how their holdings were handled here.

What does the takeover mean for the credit ratings of the individual RSA businesses in future?

Ratings agencies Moody’s and S&P are reviewing their ratings of the ongoing RSA businesses, but we anticipate maintaining similar financial strength ratings of ‘A’ for our UK & International operations.  

Please refer to this page where we will publish these ratings as they are confirmed by each agency.

RSA London1

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20FS

Official documentation from all parties

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