Royal & SunAlliance has announced that it is reducing its 50% shareholding in Global Aerospace Underwriting Managers to 10.1%, and decreasing its interests in the aerospace insurance Pool managed by GAUM from 28.125% to 9.25%.
The shareholding will be sold to three buyers, comprising Converium, Munich Re and Northern States Agency - a subsidiary of Berkshire Hathaway.
Royal & SunAlliance's share of Global Aerospace's net assets sold is £12m.
