RSA acquires Sertus

by Gill Montia

Story link: RSA acquires Sertus

Royal & Sun Alliance (RSA) has acquired Sertus Underwriting, which operates within the Irish motor and household insurance market.

Sertus was established in 2003 and is based in Ballybrit, Galway. The firm wrote £11.3 million of business in 2007.

In a statement to the stock exchange, RSA said the acquisition was: “consistent with Royal & Sun Alliance’s strategy in Ireland of building leading positions in targeted segments.”

The move follows the group’s acquisition Fyfe Group, the motor trade specialist broker, in February and professional indemnity specialist, Martello Underwriting, in November of last year.

Simon Lee, chief executive of Royal & Sun Alliance’s international businesses, said: “We have a strong business in Ireland and a track record of delivering profitable performance. This transaction represents an exciting opportunity to combine technical excellence with strong distribution and supports the delivery of our objective of sustainable, profitable performance.”