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RSA Insurance Group planning 'small' acquisitions

RSA Insurance Group is to buy firms to support its growth.

18 April 2012

RSA Insurance Group could have hired merger and acquisition advisors, as its chief executive officer Simon Lee told Reuters in Toronto it intends to purchase small companies at present.

This ought to drive its expansion outside of its British home market, he said.

However, the business leader noted the firm is not going to make any multibillion-dollar deals in the immediate future.

"My focus is firmly on bolt-on acquisitions," Mr Lee told the news source, defining these as those with a maximum value of around £267 million.

He explained he thinks it is incumbent on him not to receive finance through the equity markets but to pay for growth using RSA's own resources.

This effectively caps the maximum size of the acquisitions it can make, the representative declared.

RSA was previously known as Royal & Sun Alliance and received an operating profit of £884 million during 2011, which is 38 per cent higher than levels seen in 2010.

Posted by David Gleck

Source: Reuters, April 17th

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