RSA Insurance Confirms Receipt Of Revised Offer From Zurich Insurance

(RTTNews) - RSA Insurance Group plc's (RSA.L, RSA) board announced that it has received a revised proposal from Swiss insurance company Zurich Insurance Group AG (ZURVY) regarding a possible all cash offer for the company at 550 pence per ordinary RSA share.

Under the terms of the proposal, RSA ordinary shareholders will also retain the right to receive the 3.5 pence interim dividend announced by RSA on August 6, 2015. The offer is conditional on, amongst other things, due diligence and the recommendation of the Board.

The RSA Board has indicated to Zurich that it would be willing to recommend an offer at the level of the offer to RSA shareholders subject to the satisfactory resolution of the other terms of the offer. Accordingly, the Board is in discussions with Zurich in relation to these terms.

On July 28, Zurich Insurance had that it is evaluating a possible offer for RSA Insurance.