Al Ahlia, the third largest insurer in Oman, has £40m GWP
RSA has acquired Al Ahlia Insurance Company SAOC for OMR 19m (£31m) from ONIC.
Al Ahlia is the third largest insurer in Oman, with gross written premiums of OMR 25m (£40m) in 2008.
RSA said the deal will create the largest insurance group in Oman by net written premium.
Consideration is payable as a combination of cash and shares in the acquiring entity RSA Oman.
RSA's chief executive of Emerging Markets, Paul Whittaker, said: “The acquisition of Al Ahlia creates a market leading insurer in Oman and enhances our Emerging Markets platform in the Middle East.”
Completion of the transaction is subject to shareholder and regulatory approvals.
