RSA
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The 10-year and 30-year bonds will be issued in a private placement.
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RSA’s Scandinavia finance chief will replace Mark Allan, who is moving to run new syndicate Ki.
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Canadian pension fund managers CDPQ, CPP and OTPP back the subscriptions receipt issue.
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The boards of the companies moved one step closer to an agreement for the proposed acquisition.
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Existing capacity relationships include those with Aviva and Tokio Marine HCC.
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The fundamental issue of causation, as well as trends clauses and the Orient Express judgment, will be under scrutiny. -
Thoughts vary on the prospects for a rival bid, but share price sits 4% below the offer price.
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The offer is a 52% premium to the target’s undisturbed price.
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Sky News names former trade minister Baroness Fairhead as potential replacement.
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The likelihood of a heavy loss rises, but some elements including requirements around mandatory shutdowns are a silver lining.
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Reinsurance recoveries and a drop in overall claims will offset the BI loss hike.
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The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.
