Royal & Sun Alliance Insurance Group sells its stake in RSA Middle East

Royal & Sun Alliance Insurance Group (RSA) has sold its 50% stake in its subsidiary RSA Middle East. The buyer is Omani insurer National Life & General Insurance, majority owned by Oman International Development and Investment (OMINVEST).

The transaction comes after the acquisition, in June 2021, of RSA by the Canadian financial group Intact Financial Corporation. The deal is pending regulatory approval and should be completed by Q3 2022.

RSA Middle East operates in the United Arab Emirates, Bahrain, Oman and Saudi Arabia and has been active for 70 years.