Insurer sold 26% holding to Sundaram Finance for £46m

bigstockphoto Sold Sign 4964607

RSA has completed the sale of its 26% share of Indian joint venture insurer Royal Sundaram Alliance Insurance Company.

The insurer revealed in February that it was selling the stake to joint venture partner Sundaram Finance in return £46m.

The company now expects to recognise a profit on disposal of around £17m, up from its initial estimate of £16m.

The news comes as Swiss insurer Zurich is considering making an offer to buy RSA.