Royal & Sun Alliance (R&SA) is looking to continue its disposal strategy by selling its US property and casualty businesses, according to reports.
Royal & Sun Alliance (R&SA) is looking to continue its disposal strategy by selling its US property and casualty businesses, R&SA USA, according to reports.
R&SA has been testing the market since the sale of its Atlanta-based Royal Specialty Underwriting unit in June, according to CBS News. The unit, R&SA USA, produced net written premiums of $3 billion (£1.3 billion) in 2002.
A spokeswoman for R&SA declined comment.
AM Best analyst Karen Horvath said: "It wouldn't necessarily surprise me that any European parent would be looking to sell its U.S. business, especially this one."
Sources said a sale of the unit's renewal rights would be more attractive to buyers because renewal rights alone would leave existing liability in the hands of R&SA.
