Reply #94: Royal & Sun Alliance (with AIG)

[DrDebug]

Royal & Sun Alliance is a British general insurance company, with its operating head quarter at London, UK. (1)

The company was formed following the merger of Sun Alliance and Royal in 1996, and the acquisition of AMEV in 1997. Sun Alliance was itself a product of the merger of Sun and Alliance insurance companies. It is the oldest general insurer still operating under its original name at the time of its foundation, with The Sun opened for insurance business in 1710. (1)

Royal & Sun Alliance was one of the pre-9/11 traders.

AIG and Royal & Sun Alliance have a joint venture called AIG SunAmerica, one of the largest U.S. retirement services businesses. (2)

2004: AIG purchases Royal & Sun Japan

November 11, 2004

AIG Subsidiaries Purchase Royal & SunAlliance Insurance Portfolio in Japan

Press Release, American International Group, Inc.

NEW YORK & TOKYO - (Business Wire) - American International Group, Inc (AIG) has announced that its subsidiaries American Home Assurance Company and AIU Insurance Company will purchase the insurance portfolio of the Royal & SunAlliance (RSA) branch operations in Japan. The purchase price of the book of business is GBP92 million, and AIG expects ongoing annual gross premiums to approximate 11 billion Yen....

The transaction is subject to regulatory approvals and other customary conditions.

American International Group, Inc. is the world’s leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions....

AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate...

Much more at:
A Marriage On The Rocks

http://www.the-catbird-seat.net/Royal-SunAlliance.htm

Sources:
1. http://en.wikipedia.org/wiki/Royal_&_Sun_Alliance_Insurance
2. http://www.visualize-retirement.com/aigsun/aigsun.html