RSA is run by chief executive Stephen Hester, the former boss at Royal Bank of Scotland, who was hired to revive the insurer’s fortunes after it was hit by a series of profit warnings more than 18 months ago. The largest purchase announced this year was Ace Ltd.’s...
August 6 British insurer RSA, subject of a potential takeover bid by Swiss rival Zurich Insurance, on Thursday posted forecast beating pretax profits of 288 million pounds ($449.83 million).
Recently, there has been a move towards consolidation in the insurance sector – and this is due to new European rules about the reserves that insurance companies must maintain.