RSA UK & International, a division of RSA Insurance Group plc, will continue to be led by Scott Egan as Chief Executive Officer (CEO) following the completion of the insurer’s proposed acquisition by Intact Financial Corporation and Scandinavian insurer Tryg.
After finalising a $3.2 billion capital raise ahead of its joint acquisition of RSA, Intact secured shareholder approval for the deal back in November.
Subject to regulatory approvals, including financial regulatory and anti-trust approvals in relevant markets and completion of Tryg’s rights issue, the takeover is expected to close in the second-quarter of 2021.
With completion edging closer, Intact has today confirmed that Egan will remain as CEO of RSA’s UK & International business, having been appointed to the role in early 2019.
Additionally, Egan will also sit on the Executive Committee of Intact, reporting to CEO, Charles Brindamour.
Commenting on the announcement, Brindamour said: “Scott Egan has done an excellent job as CEO of RSA’s UK and International business over the last two years. He has built a great team and culture and significantly improved performance. I am delighted to welcome Scott to Intact upon completion of the deal and look forward to working with him to drive future success in the UK and International businesses.”
Egan added: “The UK&I business has made real progress in the last two years, and our focus is on maintaining this momentum. RSA’s people are passionate about improving for our customers alongside continuing to strengthen our financial performance, and our future as part of Intact will enable us to do both at an accelerated pace. I’m pleased to be joining an ambitious Intact team and look forward to contributing to the success of the new combined Group.”
