RSA latest developments

Offer to buy RSA

Please read more about the purchasing offer that RSA has received via the following link: https://www.rsagroup.com/investors/offer/offer-to-buy-rsa/

BREXIT

As a result of the United Kingdom’s (UK) withdrawal from the European Union (EU) (commonly known as “Brexit”), RSAI has transferred certain insurance and reinsurance business, including certain Charterama policies, to RSA Luxembourg S.A. (RSAL), a subsidiary of RSAI incorporated in Luxembourg. RSAL is authorised by the Luxembourg Minister of Finance and supervised by the Commissariat Aux Assurance, the Luxembourg insurance regulator. These changes are required to ensure that RSA are able to continue to service their European business following Brexit.

The transfer will have no effect on the terms and conditions of existing Charterama policies or claims, but the insurer under certain existing Charterama policies will change from RSAI to RSAL. Please note that Charterama policies (and claims attached to these policies) written by the UK establishment of RSAI between 1 November 2012 and 31 December 2015 will transfer to RSAL only to the extent they are in respect of risks located in an European Economic Area (EEA) state other than the UK. To the extent that these Charterama policies (and claims attached to these policies) are in respect of risks located in the UK or another non-EEA jurisdiction, they will remain insured by RSAI but claims will continue to be administered by Charterama. You may, therefore, be a policyholder of both RSAI and RSAL. All Charterama policies (and claims attached to these policies) written by either the Netherlands or Belgium Branches of RSAI from 1 January 2016 onwards will be transferred to RSAL.

The transfer is being effected under UK law through an insurance business transfer scheme (Scheme) pursuant to Part VII of the UK Financial Services and Markets Act 2000 and is subject to regulatory and legal approvals and has taken effect immediately following midnight (UK time) on 1 January 2019.

Further information regarding the transfer is available at www.rsagroup.com/brexit.

RSA_Insurance_Group