Business
RSA Insurance Group Ltd, a wholly owned subsidiary of Intact Financial Corporation (TSX:IFC), completes sale of shareholding in RSA Middle East to National Life & General Insurance Company
RSA Insurance Group Ltd, a wholly owned subsidiary of Intact Financial Corporation (TSX:I...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n \n \n \n RSA Insurance Group Ltd, a wholly owned subsidiary of Intact Financial Corporation (TSX:IFC), completes sale of shareholding in RSA Middle East to National Life & General Insurance Company\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n RSA Insurance Group Ltd, a wholly owned subsidiary of Intact Financial Corporation (TSX:IFC), completes sale of shareholding in RSA Middle East to National Life & General Insurance Company\n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 7, 2022\n \n \n /CNW/ - Following IFC's announcement of\n \n April 4, 2022\n \n , RSA Insurance Group Ltd (\"RSA\") today completed the sale of its 50.00002% shareholding in RSA Middle East B.S.C.(c) ('RSA Middle East') to National Life & General Insurance Company, majority-owned by Oman International Development and Investment Co. SAOG (OMINVEST).\n \n \n \n Charles Brindamour\n \n , CEO of Intact Financial Corporation and Member of the RSA UK and International Board said:\n \n \n \"The successful completion of this transaction will bring about a robust partnership that will help the\n \n Middle East\n \n business become a leading multi-line insurer in the region. We believe this is a positive next step for the\n \n Middle East\n \n , and will allow our teams in the UK,\n \n Ireland\n \n and\n \n Europe\n \n to continue their focus on Intact's strategy to outperform in these markets.\"\n \n \n \n About Intact Financial Corporation\n \n \n \n Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in\n \n Canada\n \n , a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and\n \n Ireland\n \n . Our business has grown organically and through acquisitions to over\n \n $20 billion\n \n of total annual premiums.\n \n \n In\n \n Canada\n \n , Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly-owned subsidiary BrokerLink, and directly to consumers through belairdirect. Intact also provides affinity insu...