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RSA Insurance puts Asian operations on auction block

June 17, 2014 - 6:00am

U.K. insurer RSA Insurance Group Ltd. is planning to sell its Asian operations in an auction that could raise up to $500 million, sources have told Reuters.

Companies considering bids include Sompo Japan Insurance Inc. and AXA Group, while QBE Insurance Group Ltd. and Allianz S.E. are also considering making offers, the sources said. RSA's net earned premiums from Asia dropped 7% to £38 million ($63 million) in the first quarter of 2014.

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