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  5. Peel Hunt downgrades RSA Insurance as takeover nears completion

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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."
More News
8 Apr 2020 17:00

LONDON MARKET CLOSE: Stocks Mixed As Covid-19 Takes Economic Toll

LONDON MARKET CLOSE: Stocks Mixed As Covid-19 Takes Economic Toll

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8 Apr 2020 12:00

LONDON MARKET MIDDAY: Stocks Slip As Worries Over Covid-19 Rise Again

LONDON MARKET MIDDAY: Stocks Slip As Worries Over Covid-19 Rise Again

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8 Apr 2020 11:01

Scrapped dividends near £20bn as Covid-19 hits payouts

(Sharecast News) - With almost £20bn of dividends wiped out so far in 2020, boards are grappling with whether to make payouts to shareholders or conserve cash during the Covid-19 crisis.

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8 Apr 2020 10:44

UK WINNERS & LOSERS SUMMARY: UK Insurers Fall After Pulling Dividends

UK WINNERS & LOSERS SUMMARY: UK Insurers Fall After Pulling Dividends

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8 Apr 2020 10:06

UPDATE 2-FTSE 100 retreats as insurers, Tesco take hit

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.5%, FTSE 250 up 1.9%* Tesco falls on higher costs forecast* Insurers Aviva, Direct Line slide on dividend cuts* Midcap stocks extend gains for third day (Upda...

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8 Apr 2020 10:06

UPDATE 1-UK stock rally halts as insurers, Tesco take hit

* FTSE 100 down 1.8%, FTSE 250 slips 0.2%* Tesco falls on expecting higher costs* Insurers Aviva, Direct Line slip on dividend cuts* Novacyt soars on WHO green signal for COVID-19 test kit (Adds comment, updates share prices)By Devik Jain and Sruthi...

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8 Apr 2020 09:23

TOP NEWS: UK Insurers Next To Pull Dividends Amid Virus Crisis

TOP NEWS: UK Insurers Next To Pull Dividends Amid Virus Crisis

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8 Apr 2020 08:55

LONDON MARKET OPEN: Aviva Leads FTSE Fallers While ASOS Surges On AIM

LONDON MARKET OPEN: Aviva Leads FTSE Fallers While ASOS Surges On AIM

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8 Apr 2020 07:54

UPDATE 3-UK insurers axe more than 1 bln stg in dividends amid coronavirus concerns

* Four UK-listed insurers suspend dividends* Moves follow British central bank's advice* Aviva, Direct Line, Hiscox and RSA shares drop (Adds details)By Sinead Cruise and Muvija MLONDON, April 8 (Reuters) - British insurers cancelled more than 1 bi...

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8 Apr 2020 07:54

UPDATE 2-British insurers axe billions of pounds of dividends amid COVID concerns

* Four UK-listed insurers suspend dividends* Moves follow British central bank's advice* Aviva, Direct Line and RSA shares drop in early trade (Adds share moves, background, analyst comment)By Sinead Cruise and Muvija MLONDON, April 8 (Reuters) - A ...

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8 Apr 2020 07:54

UPDATE 1-Bank of England backs COVID-19 pause in insurers' dividends

(Adds details, quotes)By Sinead Cruise and Muvija MLONDON, April 8 (Reuters) - A slew of British insurers pressed pause on hundreds of millions of pounds of dividends on Wednesday, in moves welcomed by the Bank of England, which had cautioned the ...

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8 Apr 2020 07:42

RSA pulls final dividend at request of Bank of England

(Sharecast News) - RSA Insurance has suspended its final dividend to strengthen its finances during the Covid-19 crisis after coming under pressure from the Bank of England.

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3 Apr 2020 11:56

UPDATE 3-European insurer shares fall as row breaks out over dividends

* EU watchdog tells insurers: halt payouts over coronavirus* Several insurers reluctant or opposed to recommendation* French, Dutch regulators back EIOPA; Germany against* Swiss, UK, Italian watchdogs broadly supportive (Adds Legal & General, Zurich...

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3 Apr 2020 11:56

UPDATE 2-European insurer shares fall as row breaks out over dividends

* EU watchdog tells insurers: halt payouts over coronavirus* Several insurers reluctant or opposed to recommendation* French, Dutch regulators back EIOPA; Germany against* Swiss, UK, Italian watchdogs broadly supportive (Adds French regulator, AXA, ...

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3 Apr 2020 09:13

BoE backs EU call for insurers to reconsider dividends in pandemic

LONDON, April 3 (Reuters) - The Bank of England said on Friday it backed calls from the European Union's insurance regulator for insurers to pay close attention to protecting policyholders when deciding whether to pay dividends or bonuses."We ther...

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