RSA ACQUISITION GAINS KEY APPROVALS

The acquisition of RSA Insurance Group by Canadian insurer Intact Financial and Danish insurer Tryg has received key shareholder and regulatory approvals. Following a court meeting and RSA’s general meeting on Monday, scheme shareholders and RSA shareholders voted to approve the proposed transaction via a scheme of arrangement under Part 26 of the Companies Act 2006. In addition, Intact received approval for the acquisition from the Canadian Competition Bureau. According to Intact, the acquisition is expected to complete in the second quarter of 2021, subject to receipt of approval from the relevant regulatory and antitrust authorities.