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RSA buys renewal rights to Marine portfolio
Wed, 08 Feb, 2012
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RSA buys renewal rights to Marine portfolio
Thu, 11 Mar 2010, 08:10:00
<b>RSA Insurance</b> said its Danish subsidiary Codan Forsikring has acquired the renewal rights to TrygVesta's marine hull portfolio for DKK 50m (£6m) in cash. The group said this transaction is in line with RSA's focus on targeted growth in Specialty lines and strengthens Codan's position as the third largest marine insurer in the Nordic region. TrygVesta's portfolio represents around 7% of the total Marine hull market in the Nordic region and net written premiums in 2009 were approximately DKK 400m (£48m).
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