Royal & SunAlliance Sells U.S., Puerto Rican Biz
NU Online News Service, June 10, 12:21 p.m. EDT?U.K. insurer Royal & SunAlliance Insurance Group plc. announced it is selling off two pieces of its overseas subsidiaries, the U.S.-based Royal Specialty Underwriting Inc. and its Puerto Rican insurance unit.
Royal Specialty Underwriting, its Atlanta-based excess and surplus underwriting subsidiary, will be sold off to Alleghany Insurance Holdings LLC for some $115 million, while its Puerto Rican unit will be sold to Cooperativa de Seguros Multiples de Puerto Rico for $61 million, the U.K. insurance giant said.
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