Key Developments: RSA Insurance Group PLC (RSA.L)

RSA.L on London Stock Exchange

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11:35am EDT
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3.80p (+0.84%)
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454.70p
Open
457.00p
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Latest Key Developments (Source: Significant Developments)

RSA Insurance Group PLC announces sale of its business in China for 71 mln pounds
Thursday, 3 Jul 2014 02:00am EDT 

RSA Insurance Group PLC:Announces sale of its business in China for 71 mln pounds.Reached agreement to sell Sun Alliance Insurance (China) Limited (RSA China) to Swiss Re Corporate Solutions.Will receive consideration of about 71 mln pounds payable in cash.Transaction is expected to result in a gain on sale and an addition to the Group's tangible net assets of about 26 mln pounds.Completion is subject to obtaining regulatory approval.  Full Article

RSA Insurance Group PLC completes disposal of shareholding
Wednesday, 2 Jul 2014 01:15pm EDT 

RSA Insurance Group PLC:Completes sale of shareholding in Noraxis Capital Corporation, its Canadian insurance brokerage business, to Arthur J. Gallagher & Co on July 02, 2014, following receipt of formal regulatory approval.  Full Article

RSA Insurance Group PLC announces Disposal of business in Latvia to PZU
Monday, 30 Jun 2014 11:15am EDT 

RSA Insurance Group PLC:Completes sale of AAS Balta, business in Latvia, on June 30, 2014 to Powszechny Zaklad Ubezpieczen sa (PZU).  Full Article

RSA Insurance Group announces disposal of shareholding to subsidiary of Arthur J. Gallagher & Co
Tuesday, 20 May 2014 02:00am EDT 

RSA Insurance Group PLC:Agreement to sell shareholding in Noraxis Capital Corp, its Canadian insurance brokerage business, to a subsidiary of Arthur J. Gallagher & Co.Total aggregate price for the business is C$500 mln.Transaction is expected to result in a gain on sale of about 140 mln pounds and is expected to add about 225 mln pounds to the Group`s tangible net assets, improving the Group`s capital strength.  Full Article

Powszechny Zaklad Ubezpieczen SA close to buying RSA Insurance Group plc's Lithuanian insurer-Reuters
Sunday, 13 Apr 2014 08:00pm EDT 

Powszechny Zaklad Ubezpieczen SA:PZU is close to acquiring Lithuanian rival Lietuvos draudimas from British group RSA Insurance Group plc (RSA) in a deal valued at around 100 million euros ($139 million), sources with knowledge of the matter said-Reuters.Last month Lithuanian media reports said that PZU was bidding in competition with Austria's Vienna Insurance Group (VIG) but PZU offered better conditions.Lietuvos draudimas has said that RSA has made no official decision but according to local media the British insurer has been considering various options to spin off the unit.PZU, which operates in Lithuania via its subsidiary PZU Lietuva, declined to comment.No one at Lietuvos draudimas or VIG was immediately available for comment.  Full Article

RSA Insurance Group plc announces results of rights issue
Thursday, 10 Apr 2014 02:00am EDT 

RSA Insurance Group plc:Announces 3 for 8 rights issue of 1,380,976,863 new ordinary shares at 56 pence per new ordinary share.Expects new ordinary shares will commence trading on the London Stock Exchange plc’s main market for listed securities on April 10.Net proceeds will be paid to those persons whose rights have lapsed in accordance with the terms of the rights issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than 5 mln will not be paid to such persons but will be paid to the company.  Full Article

RSA Insurance Group plc announces rights issue
Tuesday, 25 Mar 2014 03:00am EDT 

RSA Insurance Group plc:Launchs rights issue to raise 773 mln Pound in proceeds.Rights Issue is fully underwritten 3 for 8 rights issue of 1,380,976,863 ordinary shares of 27.5 pence each in capital of company at price of 56 pence per new ordinary share.Issue Price of 56 pence per new ordinary share represents discount of about 40 pct to closing price of 93.4 pence on March 24 and 32.7 pct discount to theoretical ex-rights.Rights Issue to be fully underwritten by BofA Merrill Lynch and J.P. Morgan Cazenove, to provide certainty as to amount of capital to be raised.  Full Article

RSA Insurance Group Plc's board declares final dividend for 2013
Thursday, 27 Feb 2014 02:00am EST 

RSA Insurance Group Plc:To pay 3.90p as final dividend for Dec. 31, 2013.  Full Article

RSA Insurance Group PLC announces board change
Tuesday, 4 Feb 2014 11:19am EST 

RSA Insurance Group PLC:Says the appointment of Stephen Hester as Group Chief Executive and a Director of the company with immediate effect.Says Martin Scicluna, Chairman of RSA, who has been acting in an executive capacity pending the appointment of a Chief Executive, will revert to Non-Executive Chairman.  Full Article

RSA Insurance Group PLC faces sale of family silver to protect credit rating-Reuters
Monday, 16 Dec 2013 12:06pm EST 

RSA Insurance Group PLC:May have to sell assets, leaving it concentrated in slow-growing markets such as its British home patch, to raise up to 1 bln pounds ($1.6 bln) and safeguard its credit ratings-Reuters.Ratings agency Fitch put RSA's Insurer Financial Strength (IFS) rating of A on Rating Watch Negative, indicating it is considering a downgrade.  Full Article

UPDATE 1-Wonga appoints ex-RSA boss as chairman to drive changes

* Wonga was fined $4.4 million by regulator last month (Adds further details)

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