Royal & SunAlliance (R&SA) yesterday refused to rule out further disposals, as it announced the sale of its Puerto Rican and US business operations.
The insurer yesterday revealed that it had sold Royal Specialty Underwriting Inc (RSUI), one of its American businesses, to Alleghany Insurance Holdings for £72m. It also outlined details of the sale of its Puerto Rican arm for £38m.
According to reports the group is adamant that further disposals are possible, as it seeks to off-load its riskier operations.
R&SA's businesses in Asia, China and India could also be sold, and those in Canada, Denmark and Sweden pared down.
An R&SA spokesman said: "Within each of the key areas there may well be further adjustments."
R&SA has already shed its Australian and New Zealand operations, called Promina, and its UK healthcare and assistance business. These disposals raised £540m and £247m respectively, which plugged a £700m shortfall in its underwriting operations.
The sale of RSUI fulfilled two of the insurer's short-term aims - lowering the group's risk profile and creating a surplus.
