Royal Sun Sells US Renewal Rights to Travelers

Royal & SunAlliance (NYSE:RSA) (LSE:RSA) today announced a definitive agreement to sell the renewal rights for the majority of its US businesses to Travelers Property Casualty Corp. Business lines included in the sale are the company's Standard & Preferred Personal Lines, Risk Management casualty & domestic property, Marine and Middle Market Segments. In 2002, net written premiums for these businesses were $1.5 billion. The sale is part of a strategic shift by Royal & SunAlliance worldwide to refocus operations on those markets and businesses where it has a leading position, primarily the...