Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Royal & SunAlliance Announces Initial Public Offer

Royal & SunAlliance Announce Plans for an IPO involving the majority of its Asia Pacific Insurance and Financial Services Operations

The Royal & SunAlliance Group today announced plans for an Initial Public Offering (IPO) involving the majority of its Asia Pacific operations which encompass Australia, New Zealand and certain Asian countries.

The new company will continue to operate under existing well known brands including AAMI, Australian Pensioners Insurance Agency and Tyndall in Australia, AA Insurance and International Marine in New Zealand as well as other operations in the region. It will focus exclusively in the Asia Pacific market.

Ewoud Kulk, Group Director Asia-Pacific, Royal & SunAlliance, will become non-Executive Chairman of the new entity.

Mike Wilkins, Managing Director, Royal & SunAlliance Australia, will become CEO of the new regional entity.

The IPO is on track to be finalised during the first half of 2003, after all necessary financial and regulatory requirements have been completed. Macquarie Bank and Goldman Sachs have been retained in conjunction with this process. Discussions are underway with regulators and joint venture partners in the Asia Pacific markets in which the Group operates.

© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>