Yesterday RSA agreed to sell its 26% holding in Royal Sundaram Alliance Insurance Company to its joint venture partner, Sundaram Finance.
The London-headquartered insurer expects to make a £16m profit on the transaction, adding an extra £19m to its tangible net assets.
It will take six months for the transaction to be completed, RSA said.
Stephen Hester, who was appointed as RSA’s chief executive last year, said: “This transaction continues the excellent momentum of our disposal programme and represents further progress in tightening the strategic focus of the group.”
In 2014 the company sold businesses in various regions across Asia and Europe as it focuses on its core assets in the UK, Ireland, Scandinavia, Canada and Latin America.
