More bids for RSA Insurance likely

RSA Insurance chief executive Stephen Hester said that the company will attract bids from other suitors after Zurich Insurance Group abandoned its £5.6bn (€7.74bn) offer for the British insurer.

“I am sure this company will get other approaches in the future because it’s a consolidating industry and it’s an attractive company, but we are not looking for approaches and we are not talking to anyone else as we speak,” said Hester.

Hester, hired in 2014 to help the insurer restore profit and recover from an accounting scandal in Ireland, said RSA had not received any other approaches since Zurich first registered its interest in the company in July.