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RSA Insurance looks to sell Canadian unit Noraxis

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U.K. insurer RSA Insurance Group P.L.C. is looking for potential buyers for Noraxis Capital Corp., a network of Canadian regional insurance brokers, Sky News reported.

The insurer has begun the auction of Noraxis that could fetch up to £200 million ($334.9 million), reports Sky News.

Stephen Hester, newly-appointed chief executive of RSA, is mulling the sale of its operations in central and eastern Europe.

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