RSA sells minority holding in Thailand

RSA Insurance Group plc has 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 GBP36 million, and the transaction is expected to result in a gain on sale of approximately GBP22 million and an addition to the Group’s tangible net assets of approximately GBP19 million.

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.”