22 December 2014 Insurance

RSA sells stake in Thai insurer Syn Mun Kong

RSA Insurance Group has sold its stake in Thailand insurer Syn Mun Kong to LeapFrog Thailand Holdings and Mindo Asia Investments, an affiliate of Lombard Investments.

It held a 21.75 percent stake in Syn Mun Kong. It received a cash consideration of £36 million and the deal is expected to result in a gain on sale of about £22 million and an addition to the group's tangible net assets of about £19 million.

Stephen Hester, chief executive of RSA, said: "This transaction continues the excellent momentum of our announced disposals in 2014 and represents further progress in tightening the strategic focus of the Group."

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