Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Zurich scraps bid to take over UK insurance rival

Share this article

Zurich scraps bid to take over UK insurance rival
Photo: Zurich Insurance Group
09:30 CEST+02:00
Switzerland's Zurich Insurance says it has scrapped a €7.7-billion bid to take over its British rival Royal & Sun Alliance.
 "Discussions with RSA have now been terminated and . . . Zurich does not
intend to make an offer," the company said in a brief statement on Monday.
 
Separately, the Swiss insurer said it faces losses of €243 million ($275 million) following last month's industrial disaster in Tianjin, China.
 
The insurer said it forecast third-quarter losses of $200 million in its general insurance business and will conduct a review of the unit.

Massive explosions at a hazardous goods storage firm in Tianjin, northeastern China, on August 12th killed 161 people.

Get notified about breaking news on The Local

Share this article

Advertisement
Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement