RSA disposes of life arm
Royal & SunAlliance has sold its UK Life operations to Resolution Life Group for a consideration of ...
Royal & SunAlliance has sold its UK Life operations to Resolution Life Group for a consideration of £850m, comprising £750m in cash together with £100m of preference shares. Resolution is a newly formed group that has been established for the sole purpose of buying and running closed UK life funds. The disposal is in line with RSA's strategy of focusing on general insurance and strengthens its capital position. Resolution is backed by capital from institutional investors, including a number of
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