Admiral Group to acquire RSA home and pet lines
12th December 2023Tweet
Admiral Group will acquire the UK direct Home and Pet personal lines insurance operations of RSA Insurance Group.
The deal is valued at £82.5m, with a further potential payment of up to £32.5m depending on the number of policies successfully migrated to Admiral.
The acquisition, which supports Admiral’s strategy of diversifying its product offering and building multi-product customer relationships, will see about 300 colleagues join Admiral.
Milena Mondini de Focatiis, Chief Executive Officer, Admiral Group, said, “Increased scale in home and pet not only supports Admiral’s diversification strategy, but also supports our aim to provide customers with a stronger multi-product offering, choice and convenience.”
Ken Norgrove, Chief Executive Officer, RSA UK&I, added: “This transaction aligns with our strategic ambition and I’m confident that Admiral’s shared values and track record in delivering excellence for customers makes them a perfect fit for our direct UK Personal Lines business.”Tweet
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