RSA Acquires Renewal Rights to TrygVesta’s Marine Portfolio

The UK’s RSA Insurance Group announced that its Danish subsidiary Codan Forsikring A/S has acquired the renewal rights to TrygVesta’s marine hull portfolio for DKK 50 million [app; £6 million – $9 million].

RSA said the transaction is in line with its “focus on targeted growth in Specialty lines and strengthens Codan’s position as the third largest marine insurer in the Nordic region.

“TrygVesta’s portfolio represents around 7 percent of the total Marine hull market in the Nordic region and net written premiums in 2009 were approximately DKK 400m (£48 million – $72.22 million).”

The transaction is subject to regulatory approval.

Source: RSA Group – www.rsagroup.com