Royal & SunAlliance jettisons US business
Royal & SunAlliance has disposed of its US business by selling it to Arrowpoint Capital, a vehicle s...
Royal & SunAlliance has disposed of its US business by selling it to Arrowpoint Capital, a vehicle set-up by RSA's US management team to run-off the business. The insurer will make a pre-tax loss of £443m on the deal but it will be seen as a relief for shareholders.
RSA has failed to make an underwriting profit in the US for the past ten years, and the operation's loss before tax was £17m for the first six months of 2006. It has also not written any new business in the US for the past three years
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