Chief Andy Haste puts to bed any chance of a second bid

RSA group chief executive Andy Haste today killed off any chances of a second bid for Aviva.

Speaking to analysts, Haste was referring to RSA's unsuccessful bid for Aviva’s general insurance businesses in Canada, Ireland and the UK in 2010.

Haste refused to answer questions on the deal, but said: “I have nothing to add on Aviva. It’s a closed chapter."

Since RSA failed in its £5.5bn attempt to buy Aviva's GI businesses last year, there has been mounting speculation that RSA could lose its independence to a bigger rival.

Finnish giant Sampo and Zurich have both been touted as potential buyers. There was also talk of Aviva turning the tables with a counter bid.

RSA today posted its full year results for 2010, marking down an 11% increase in net written premiums to £7.5bn compared to last year.

The overall combined operating ratio was 96.4%, including 3.5 points of weather losses (2009: 94.6%).

For more, read our online subscriber exclusive: Comment: has RSA's failed bid for Aviva backfired?

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