Royal & SunAlliance has announced the sale of the business of its Pakistan operation to International General Insurance Company of Pakistan Ltd.
The consideration will reportedly be around £700,000 (U.S.$1.25m), to be paid in cash. In addition, Royal & SunAlliance will retain net assets, mainly in cash and investments of around £3.4m (PR 363m), making £4.1m in total proceeds.
Royal & Sun Alliance Pakistan underwrites a general portfolio of mainly commercial business.
Was this article valuable?
Here are more articles you may enjoy.
Lloyd’s Market Engaging With US on Gulf Maritime Plan, Officials Say 
Insurance Clubs to Halt Ship War-Risk Cover in Persian Gulf 
Carriers Using AI for Claims But Adoption is Fragmented, Report Shows 
Live Nation Monopoly Has ‘Broken’ US Concert Market, DOJ Says 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.