RSA Insurance Group P.L.C. has completed the sale of its Italian business, RSA Italy, to Trento, Italy-based ITAS Mutua, it announced Monday.
London-based RSA announced in October 2014 that it would sell its Italian business to ITAS Mutua as part of a program of disposals.
It said it would pass on insurance liabilities of £434 million ($643.0 million), and their associated assets, and receive a further goodwill payment of £19 million ($28.2 million).
Late last year, RSA sold businesses in Russia and Latin America, among other disposals.
In September, Zurich Insurance Group Ltd. announced it was pulling out of a deal to buy RSA.
(Reuters) — British insurer RSA Insurance Group P.L.C. is not looking to be taken over but might consider offers if they are in shareholders' interests, Chief Executive Stephen Hester said Thursday after the firm posted a 4% rise in net asset value in the third quarter.