Completion of RSA’s NIG acquisition ‘accelerates’ insurer’s plans

RSA’s acquisition of the NIG and FarmWeb brands has “accelerated” the insurer’s plans to become the best commercial lines insurer in the market.

That was according to Sonya Bryson, who told Insurance Times that today (1 May 2024) was a “milestone” as it marked the formal start of the two brands being integrated into RSA.

The insurer agreed a deal to acquire Direct Line Group’s (DLG’s) commercial lines operations – including the NIG and FarmWeb brands – in September last year.

As part of the deal, Bryson has taken up the role of commercial lines managing director at RSA, with Lee Mooney departing the firm.

Bryson said that there had been a “huge amount” of pace and activity over the integration and that the deal had brought forward RSA’s aim to be the best commercial and speciality lines insurer in the UK.

“That was an ambition on the cards, but for the end of 2026,” Bryson said.

“Then the acquisition accelerated that to bring it to the end of 2025, but ultimately brokers will decide.

“We can say we are the best, but brokers will decide if we are and then if we do achieve that accolade, we’ve got a job to do to stay up there.

“The Northstar has been set – there’s been a huge amount of pace [and] activity on the integration.”

Opportunities

The acquisition was agreed for an initial fee of £520m, with potential for up to a further £30m contingent on earnout provisions related to financial performance of the acquired business lines.

In a LinkedIn post today, RSA said it “couldn’t be more excited as we embark on this transformational journey in our commercial lines business and welcome almost 750 new colleagues to the RSA family”.

“Headed by Sonya Bryson and our new commercial lines leadership team, we’re set to bring you the best of both brands, with the integration presenting many opportunities for our business, our brokers and our colleagues,” the insurer said.

“As the first day on this journey as a united team, we’d like to send a huge thank you to all those who have played a part and for being as excited as we are.

“We couldn’t have done it without you and the past few months have been a testament to becoming better together.”