RSA sells Singapore and Hong Kong businesses to Allied World for £130m
Cash deal comes with promise of more disposals over next 18 months.
RSA has sold its Singapore and Hong Kong branches to Allied World for £130m in cash, made up of £93m for the former and £37m for the latter.
Both operations underwrite a mix of commercial specialty and retail business and senior management are expected to remain with the respective businesses at completion.
Net written premiums for RSA's operations in Singapore in 2013 were £66m with a pre-tax profit of £12m. In the same year Hong Kong had net written premiums of £47m with a pre-tax profit of
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