R&SA Notes Sale of Pakistan Operation to International General Insurance Co. of Pakistan

July 16, 2004

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.

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