Royal & SunAlliance (R&SA) has confirmed that it is selling its US non-standard auto business Viking Insurance to the mutual company Sentry Insurance for $200m in cash.
The sale proceeds will be retained within R&SA's remaining US business and the overall capital benefit of the sale will be around $230m.
R&SA chief executive Andy Haste said: "This disposal further reduces the group's exposure to the US, while providing the US operation with additional capital support."
The deal is subject to regulatory approval.
