Zurich drops RSA bid and focus on profitability
Tuesday, 09 22 2015, Category: Insurance and Reinsurance, Country: Europe
Demonstrating that M&A in insurance and reinsurance is not always the answer, Zurich Insurance Group has announced that it has decided against making the expected bid for RSA Insurance Group, as it decides instead to focus on profitability.
There has been a lot of discussion of the potential Zurich acquisition of RSA, which came to light back in July when Zurich said it was evaluating a bid. The deal would have combined two of Europe and the world’s largest primary insurance groups, resulting in an almost certain reduction in reinsurance bought by a combined entity.