On December 7, 2023, Intact Financial Corporation (TSX: IFC) sold RSA’s UK direct Home and Pet personal lines operations to Admiral Group plc for £120 million (C$205 million). The deal included an initial £82.5 million (C$141 million) cash payment, with up to £32.5 million (C$56 million) in additional payments based on policy migration.

The sale, announced on December 7, 2023, and completed on March 31, 2024, included the transfer of renewal rights, the "MORE THAN" brand, and 300 employees to Admiral. RSA retained claims reserves and exited the UK Personal Lines market to focus on Commercial and Specialty Lines.

J.P. Morgan Securities plc advised Intact and RSA, with Skadden, Arps, Slate, Meagher & Flom (UK) LLP as legal counsel. Barclays PLC and Clifford Chance LLP advised Admiral.