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RSA Insurance Group Limited (trading as RSA, formerly RSA Insurance Group plc and Royal and Sun Alliance) is a British multinational general insurance company headquartered in London, England. RSA has major operations in the United Kingdom, Ireland, Scandinavia and Canada.
To strengthen its life business, Royal bought Lloyd’s Life in 1985 for £93 million, followed by the US life company Macabees in 1989. Like other financial institutions, in 1985 Royal started buying chains of estate agents, continuing right until the end of the housing boom; by October 1988 it had a controlling interest in 772 branches.
Sun Alliance Group plc was a large insurance business with its main offices in the City of London and later Horsham. It was created in 1959 by the merger of Sun Insurance, founded in 1710, and Alliance Assurance founded in 1824. In 1996 Sun Alliance merged with Royal Insurance to form the Royal & Sun Alliance Insurance Group.
After the 1996 merged of Royal Insurance and Sun Alliance to form Royal and Sun Alliance, the Canadian company changed its name to the Royal and Sun Alliance Insurance Company of Canada. In 2008, Royal and Sun Alliance changed its brand name to RSA, at which time Western Assurance began operating as WA. [3]
The company was initially promoted as a joint venture between Sundaram Finance, one of the most respected non-banking financial institutions (NBFCs) in India and Royal & SunAlliance Insurance plc, UK, one of the oldest general insurers in the UK. In July 2015, Sundaram Finance acquired the 26% equity holding from Royal & SunAlliance Insurance plc.
Within a month of opening, it wrote its first life assurance policy. In 1847, the company purchased the London, Edinburgh & Dublin Assurance Co. changing its name to Liverpool & London Fire and Life Assurance Co. Around then a London office was established. [2] [3] The 1850s and early 1860s was a period of expansion, first internationally then ...
On Jan. 1, IBM put the brakes on its dollar-for-dollar 5% employee match in its 401(k) plan and began providing most of its US workers a portable "retirement benefit account."
Its first domestic acquisition was made in 1847, the fire business division of the Insurance Company of Scotland, and a further dozen more around the country were made by 1890. Almost immediately there were four strategic overseas acquisitions: the Royal Canadian Fire Office of Montreal; the Union Fire Insurance of San Francisco; the Tasmanian ...