It was recently announced that RSA Insurance Group will be rebranding as Intact Insurance by the end of 2025.
Speaking to Insurance Business about the decision, Ken Norgrove (pictured), CEO of RSA Insurance Group, emphasised that it felt like the right moment. “The purpose of the organisation we define as helping people, businesses and society prosper in good times,” he said. “It's what we do at the heart of our business. And because we have such alignment with Intact as well, from a values perspective, four years into the Intact integration, it just felt like the perfect timing to rebrand both RSA and NIG into Intact… leading with that service proposition and deep technical expertise.”
Norgrove argued that the rebranding helps with its global strategy: "We've got a very strong global specialty network service proposition, and that operates in more than 150 countries across the globe, and that needs to be united under one brand. So it made sense to move to Intact Insurance for that global specialty network.”
He reassured brokers and clients that the rebrand will not extinguish RSA’s heritage, but represents another evolution of the company: “We're not leaving behind our history and our heritage,” he said. “It's something that we're really proud of. And when you look at the heritage of RSA itself - RSA is made up of about 38 different companies down through the years, which were known as everything from the obvious of Royal Insurance and Sun Alliance, to ones that aren't obvious to people, the Liverpool and London, Globe, The Lancashire Insurance Company, The Patriotic Insurance Company."
Norgrove also believes that the Intact name aligns with the firm’s new commercial focus: “And because we're focused on the commercial segment …. being a household name isn't as important for us as being truly recognised by commercial customers and their brokers.”
In terms of the potential concern towards the name change, Norgrove added: “We did spend time talking to brokers in advance of the move to understand what their concerns might be. And quite frankly, the majority of brokers told us, ‘we don't mind what name you have above the door, but deliver on your service proposition’.”
In order to support RSA in its transition, Norgrove hopes brokers will recognise the services offered: “… We want brokers and customers to recognise us for our ease of doing business and our expertise. That's ultimately what we want…whether it's in our service proposition, our underwriting and pricing proposition or our claims proposition.”
In terms of rebranding, RSA has planned to make it a smooth transition for brokers. “We've already been very careful with the integration of NIG,” Norgrove said. “We're already renewing NIG business on the RSA platform…. From Q4 this year, we’ll just have one product, one price, one proposition and one brand. So it should be a lot slicker. And our wish and hope is that brokers don't notice the change other than the logo on the paper, and that they'll only see improvement.”
RSA aims to focus on service delivery to grow the organisation.
Norgrove stated: “Our primary focus is to deliver on that ease of doing business and expertise, we think that then gives us an ability to grow organically above the rest of the market. And clearly, if opportunities arise for consolidation in the market, we would be clearly very keen on that. That's part of what has helped Intact grow significantly over the last number of years.”
In terms of specific growth targets, Norgrove said: “By 2030 we would expect… mid to high single digits growth, so somewhere in the 7% growth range, organically, year on year, between now and 2030. That obviously will average out depending on market cycles - but that will be our ambition.”
