South Africa’s Rand Merchant and Finnish insurer Sampo offered nearly 50% premium

There has been rising interest in the UK general insurance market from overseas insurers. Last year Allianz completed two acquisitions which made it the number two in the market, while Axa and Zurich also have a big presence in the UK. Sampo said on Wednesday that it had been “considering a geographic expansion beyond its current footprint”. It added: “Sampo believes that the UK, as the second largest retail P&C market in Europe, offers an attractive scale opportunity.”

Oliver Ralph in Financial Times Aug 5th 2020