01 June 2021
Customer policies are not impacted by this takeover, and all policies and any claims related to those continue to operate as before. People who need to get in touch with us about a policy or a claim should continue to do so in the usual way.
We will re-register our ‘Plc’ companies to become ‘Private Limited’ companies. In due course, these new companies will appear in our policy documents and other contracts and legal documentation. Our brands, registered offices and company numbers are unchanged.
Commenting on the takeover, Scott Egan, continuing CEO of RSA UK & International, said:
“I’m really excited about this new chapter of RSA’s long and illustrious history. Everyone is looking forward to working as part of Intact, building on our recent progress and momentum and continuing to develop our propositions for customers, brokers and partners.
“The expertise and ambition of Intact gives us a great opportunity to improve and accelerate our plans with the joint goal of making it a better business. I’m really looking forward to seeing what we can achieve together.”
You can read the full announcement about the takeover here.
How RSA’s businesses are now owned
RSA was comprised of three divisions; Canada, Scandinavia, and UK & International (the UK, Luxembourg, Ireland and Middle Eastern businesses). These are now owned in this way:
- Tryg A/S has taken ownership of RSA’s former Swedish and Norwegian business, Trygg-Hansa and Codan Norway.
- Intact Financial Corporation owns RSA’s Canadian and UK & International businesses.
- RSA’s Codan business in Denmark, is jointly owned by the two parties on a 50/50 economic basis.
Timeline of the offer to buy RSA
- November 2020: RSA Insurance Group Plc Board confirms receipt of an offer to buy the business from Intact and Tryg, and confirms intention to recommend the offer to shareholders.
- January 2021: RSA shareholders vote to approve the takeover.
- January – May 2021: All parties continue due diligence and approval processes required to reach conclusion of the deal.
- March 2021: Scott Egan announced as continuing CEO of RSA UK & International, and Mark Hodges to Chair new RSA UK&I Board.
- June 1st 2021: Intact and Tryg formally take ownership of RSA.
Frequently asked questions
An offer was received from Canadian firm Intact, and Danish business Tryg last year to buy RSA Insurance Group Plc. This offer was accepted by RSA’s shareholders in January 2021 and following receipt of relevant regulatory and other approvals the transaction has now completed and the ownership of RSA’s businesses has changed as described below.
RSA was comprised of three divisions; Canada, Scandinavia, and UK & International (the European, Irish and Middle Eastern businesses). Tryg now owns the Swedish (Trygg-Hansa) and Norwegian (Codan) businesses and Intact owns the Canadian and UK & International businesses. RSA’s Codan business in Denmark, will be jointly owned by the two parties on a 50/50 economic basis.
The ordinary shares in RSA Insurance Group plc have been transferred to the buyer.
Shareholders of RSA Insurance Group Plc, can find out more about how their holdings were handled here.
There is no change for any of our customers. This deal is a change of ownership for RSA and therefore a new parent company. Our operations and brands are working as usual and our contact points, products and claims processes remain the same.
There is no change for our distribution partners. Our engagement with all parties will continue as usual. This deal is a change of ownership for RSA in the UK and therefore a new parent company. Our operations and brands are working as usual and our contact points, products and claims processes remain the same.
Nothing at all. Our claims process is unchanged by this takeover. We will continue to assess your claim and we will be in touch with you as normal.
RSA and MORE THAN will continue in the UK as they are today.
Ratings agencies Moody’s and S&P are reviewing their ratings of the ongoing RSA businesses, but we anticipate maintaining similar financial strength ratings of ‘A’ for our UK & International operations.
Please refer to this page where we will publish these ratings as they are confirmed by each agency.