Zurich Insurance give up the acquisition of RSA

After announcing its intention to acquire RSA Insurance Group for about EUR 7.7 billion (USD 8.7 billion), the third non-life European insurer puts an end to its aspiration.

Zurich Insurance explains this decision by the deterioration of its general insurance activity. The Swiss company would sustain, during the third quarter of 2015, a loss of USD 200 million on its non-life insurance business. The Tianjin catastrophe, alone, could cost Zurich Insurance USD 275 million.