RSA Insurance Group
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| Type | Public (LSE: RSA) |
|---|---|
| Founded | 1996 |
| Headquarters | London, England, UK |
| Key people | John Napier, Chairman Andy Haste, CEO |
| Industry | Insurance |
| Revenue | £7,273 million (2008) |
| Operating income | £867 million (2008) |
| Net income | £586 million (2008) |
| Website | www.rsagroup.com |
RSA Insurance Group plc (LSE: RSA) is a British general insurance company which rebranded under the RSA brand in April 2008. The company formally changed its name from Royal & Sun Alliance Insurance Group plc on 20 May 2008.
It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It was formerly also listed on the NYSE: in late 2006 it was delisted from the NYSE due to the sale of all of its United States operations, in a large part due to its refusal to pay its obligation of US$4 billion for the World Trade Center. RSA's formal exit from the USA was announced on 5 March 2007, following unsuccessful legal challenges to the sale in the courts of Delaware, USA.
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[edit] History
The company was formed following the merger of Sun Alliance and Royal Insurance in 1996.[1]
Sun Alliance was itself a product of the merger in 1959 of The Sun, which was founded in 1710, with The Alliance, which was founded in 1824 by Nathan Mayer Rothschild and Moses Montefiore.[2] Sun Alliance went on to acquire London Insurance in 1965 (becoming Sun Alliance & London)[2] and Phoenix Assurance in 1984.[3]
Royal Insurance was founded in 1845.[2] It acquired Liverpool & London and Globe Insurance Company in 1919.[2]
The company formally changed its name from Royal & Sun Alliance Insurance Group plc to RSA Insurance Group on 20 May 2008.[4]
In March 2009, RSA announced plans for the shedding of 1,200 jobs from its UK operations, a reduction of around 15%.[5]
[edit] Operations
RSA provides insurance products and services to over 20 million policyholders.[6] It has the ability to write business in 130 countries and has direct operations in 27 countries.
It is the second largest general insurer in the United Kingdom with headquarters in the City of London in Fenchurch Street (Global) and Leadenhall Street (UK). Its registered office is in St Mark's Court, Horsham. Other key UK offices are located in Liverpool, Bristol, Manchester, Chelmsford, Glasgow, Cardiff, Sunderland, Belfast, Peterborough, Halifax, Croydon and Birmingham. RSA, including its More Th>n brand, announced itself to be the first carbon neutral insurance company in the UK on 2 December 2006.[7]
RSA owns the More Th>n direct car, home, pet and travel insurance brand in the United Kingdom, recognised widely for its former Lucky The Dog advertisements and its MORE IS ... campaign. More Th>n also sells van, business car, shops and offices and business insurance through its More Th>n Business operation.[8]
It also has major operations in Scandinavia including the Codan and Trygg Hansa brands, and in Canada. It was the first foreign insurance company allowed to conduct business in China in the 1990s.
Russian INTOUCH Insurance company opened for business in April, 2008, and is now [9]
[edit] Countries with an RSA Insurance Group local office
[edit] Europe |
[edit] Asia |
[edit] South America |
[edit] North America and Caribbean |
[edit] Senior management
The current CEO of the Company is Andy Haste; in 2006, he was voted as The Independent newspapers' City businessperson of the year in the insurance sector.[10]
[edit] References
- ^ Smooth merger of Sun Alliance and Royal Insurance The Banker, June 1996
- ^ a b c d RSA Insurance Group History
- ^ Codan
- ^ Royal And Sun Alliance weathers the insurance storm Telegraph, 5 March 2008
- ^ RSA to cut 1,200 jobs Telegraph, 26 February 2009
- ^ RSA Insurance Group Products
- ^ Royal & Sun Alliance is carbon neutral Carpages, 2 December 2006
- ^ More Th>n
- ^ [1]
- ^ Who's in and who's out Independent, 22 December 2006
[edit] External links
- RSA homepage
- MORE TH>N homepage - car, home, pet and travel insurance
- MORE TH>N Business homepage - van, office and business insurance
- DriveTime - MORE TH>N insurance for under 25s
- MORE TH>N ad campaign homepage
- MORE TH>N pet owners' community
- MORE TH>N Green Wheels Insurance
- RSA Canada homepage
- RSA Italy homepage
- Royal & SunAlliance Chile Homepage
- RSA Group Argentina Homepage
