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RSA announces disposal of UK Legacy liabilities

08 February 2017 07:12

RSA Insurance has signed contracts, to dispose £834m of UK legacy insurance liabilities to Enstar Group Ltd.

The deal initially took the form of a reinsurance agreement, to be effective at Dec. 31, 2016, which substantially effects economic transfer, to be followed by completion of a subsequent legal transfer of the business.

The transaction is accretive to RSA's capital position, adding about 17-20 points of Solvency II coverage.

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