TGVSF - Intact Financial Tryg forge ahead with $9.5B acquisition of RSA Insurance

In the largest acquisition by a Canadian P&C insurer, Intact Financial ([[IFCZF]]), together with Tryg A/S ([[TGVSF]]), will acquire RSA Insurance Group ([[RSAIF]] +3.4%) for £7.2B (US$9.5B), expanding Intact's leadership position in Canada and adding to its specialty lines platform and international expertise.Intact will pay £3.0B of the total consideration and Tryg will pay £4.2B.Intact will keep RSA's Canadian, U.K., and International units, and Tryg will own RSA's Swedish and Norwegian businesses; Intact and Tryg will co-own RSA's Danish business.The deal marks Intact's entry into the U.K. and Ireland markets.For Intact's Canadian operations, annual premiums written are expected to increase by ~30% to C$13B (US$9.9B) from C$10B as a result of the acquisition.Sees deal generating high single-digit net operating income per share accretion in the first year, rising to upper teens within three years.Plans to finance acquisition with C$4.45B of private placement subscription receipts, C$0.6B bank term loan facility, and

For further details see:

Intact Financial, Tryg forge ahead with $9.5B acquisition of RSA Insurance