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Peel Hunt downgrades RSA Insurance as takeover nears completion

Fri, 07th May 2021 12:31

(Sharecast News) - Peel Hunt downgraded RSA Insurance on Friday to 'hold' from 'buy' but lifted the price target to 685p, which is the price it has agreed to be bought at by Intact Financial Corporation and Danish insurer Tryg.
The broker noted that RSA's takeover by the Intact-Tryg consortium is nearing completion, with all regulatory approvals now having been received.

Peel Hunt said the offer price is an attractive 18% premium to its 580p fair value estimate.

"We believe the consortium is buying RSA at an interesting inflection point for the Commercial lines business, as per the 1Q results, together with a healthy capital base.

"Intact's plans for RSA's UK Retail activities will be interesting to follow."

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25 Apr 2020 00:01

EMBARGOED-British insurers to pay 1.2 bln stg in coronavirus claims -trade body

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25 Apr 2020 00:01

REFILE-British insurers to pay 1.2 bln stg in coronavirus claims -trade body

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22 Apr 2020 14:17

UPDATE 2-Car insurers should repay premiums, British lawmakers say

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22 Apr 2020 14:17

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22 Apr 2020 12:36

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15 Apr 2020 08:26

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15 Apr 2020 07:30

Most small UK companies have no pandemic insurance - watchdog

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