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RSA Insurance sells eastern European units for $497 million

April 18, 2014 - 6:00am


RSA Insurance Group P.L.C. is selling its four businesses in eastern European for €360 million ($497 million), Bloomberg reported.

Poland's PZU S.A. will take control of AAS Balta in Latvia, Lietuvos Draudimas AB in Lithuania, the Estonian division of Codan Forsikring A/S and Poland-based Link4 Towarzystwo Ubezpieczen S.A. PZU chief executive Andrzej Klesyk said the Baltic insurance markets are expected to grow by around 10% annually.

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