Royal & SunAlliance has announced its first disposal as part of a survival plan revealed this month.

The UK-based group said it plans to sell German insurer, Securitas, for $90m.

R&SA also revealed its plans to sell-off RSIU, its US "surplus lines" business, which insures property.

Bob Gunn, Royal & SunAlliance's acting group chief executive said: "As we announced on 7 November, Royal & SunAlliance has instigated a wide ranging programme of actions to reshape the Group into a leaner, more focussed business able to deliver attractive returns to investors consistently across the insurance cycle.

"The sale of our German operations is part of our strategy to concentrate on businesses and markets where we can build a sustainable competitive advantage."

Speaking to the FT, Roman Cizdyn, insurance analyst at Commerzbank, said: "They've got to do it - if they get downgraded further, the big US brokers will not want to touch them."

R&SA has also made it clear it wants to sell-off its Asia-Pacific business, in Australia and New Zealand. The insurer claimed the sale will take place in the first half of next year.

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