RSA Insurance Sells Minority Holding In Thailand Insurer For GBP 36 Mln

(RTTNews) - RSA Insurance Group plc (RSANY.PK, RSA.L, RSA) announced Friday that it agreed and completed the sale of its 21.75 percent holding in Thailand insurer Syn Mun Kong to LeapFrog Thailand Holdings Ltd and Mindo Asia Investments Limited, an affiliate of Lombard Investments, Inc. of San Francisco, USA.

RSA received cash consideration of 36 million pounds. The transaction is expected to result in a gain on sale of approximately 22 million pounds and an addition to the Group's tangible net assets of approximately 19 million pounds.

Stephen Hester, RSA Group Chief Executive said, "This transaction continues the excellent momentum of our announced disposals in 2014 and represents further progress in tightening the strategic focus of the Group."

In London, RSA Insurance shares are currently trading at 445.75 pence, up 0.39 percent.