Intact Lines Up $2.4 Billion in Pension Money for RSA Deal

Canadian insurer Intact Financial Corp. and Danish insurer Tryg A/S have joined forces to make a 7.2 billion-pound takeover proposal for RSA. It would be the biggest acquisition of a U.K.-listed company this year. — Canadian insurer Intact Financial Corp. and Danish insurer Tryg A/S have joined forces to make a 7.2 billion-pound takeover proposal for RSA. It would be the biggest acquisition of a U.K.-listed company this year.
Photographer: Stephanie Foden/Bloomberg

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By Paula Sambo

November 12, 2020 at 1:21 PM UTC

Updated on

November 12, 2020 at 3:52 PM UTC

This article is for subscribers only.

Canadian insurer Intact Financial Corp. struck a deal with three of the country’s largest pension funds for C$3.2 billion ($2.4 billion) in financing to back a takeover of RSA Insurance Group Plc.

Intact and Danish insurer Tryg A/S have joined forces to make a 7.2 billion-pound ($9.5 billion) takeover proposal for RSA. It would be the biggest acquisition of a U.K.-listed company this year.