Toronto, Ontario – Intact Insurance has gained approval to move forward with its acquisition of UK-based insurer RSA, according to a report from Wednesday.
In November, Intact announced the completion of a $3.2 billion capital raise ahead of the transaction with RSA and a majority of RSA shareholders voted to approve the acquisition.
RSA’s acquisition is set to represent a $9.5 billion deal, of which Scandinavian insurer Tryg will contribute $5.5 billion.
The closing of the acquisition is expected to occur in the second quarter of 2021.
