RSA Insurance Group
RSA Insurance Group plc is a British multinational general insurance company headquartered in London, United Kingdom. RSA has major operations in the UK & Ireland and Canada and provides insurance products, RSA was formed by the merger of Sun Alliance and Royal Insurance in 1996. RSA is listed on the London Stock Exchange and is a constituent of the FTSE100 Index, RSA was formed following the merger of Sun Alliance and Royal Insurance in 1996. Sun Alliance was itself a product of the merger in 1959 of The Sun, which was founded in 1710, with The Alliance, Sun Alliance went on to acquire London Assurance in 1965 and Phoenix Assurance in 1984. Royal Insurance was founded in 1845 and it acquired Liverpool & London and Globe Insurance Company in 1919. The company formally changed its name from Royal & Sun Alliance Insurance Group plc to RSA Insurance Group on 20 May 2008, on 4 February 2014, it was announced that Stephen Hester, former CEO of RBS Group would become CEO of RSA with immediate effect. RSA operates in 28 countries and provides products and services in more than 140 through a global network of local partners.
It has over 20 million customers around the world, RSA is the second-largest general insurer in the United Kingdom. Its global headquarters are in the City of London on 20 Fenchurch Street occupying floors 15-17 of the walkie-talkie building and its UK registered office is 20 Fenchurch St, London. Other key UK offices are located in Liverpool, Manchester, Glasgow, Sunderland, Peterborough, Halifax and Horsham. RSA, including its More Th>n brand, announced itself to be the first carbon neutral company in the UK on 2 December 2006. RSA owns the More Than direct car, home and travel insurance brand in the United Kingdom, More Than sells van, business car and offices and business insurance through its More Than Business operation. In September 2015, RSA divested all its Latin American insurance operations to the Colombian insurance company Grupo Sura for £403 Million. R&SA put up seven of its subsidiaries for sale in an attempt to raise a further £800 million to cover liabilities for asbestos insurance claims in the United States, Friends Ivory & Sime subsequently acquired R&SAs UK asset management subsidiary in May 2002 for £240 million.
The situation was compounded by R&SA having to reserve £1. Two months Friends Provident acquired R&SAs offshore life unit International Financial Services Limited, based on the Isle of Man, in July 2002 R&SA sold its group risk business to Canada Life for £60 million. R&SA was forced to close its business, with the loss of 1,200 jobs. In an effort to reduce costs, R&SA chairman Sir Patrick Gillam said it would sell its US business RSUI and float most of its Asia Pacific operations, the case was heard at the High Court of Justice in January 2003
Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, an entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder, the insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the policy is called the premium. If the insured experiences a loss which is covered by the insurance policy. Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessels capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c.1750 BC, and practiced by early Mediterranean sailing merchants.
If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the guarantee to cancel the loan should the shipment be stolen. At some point in the 1st millennium BC, the inhabitants of Rhodes created the general average and this allowed groups of merchants to pay to insure their goods being shipped together. The collected premiums would be used to any merchant whose goods were jettisoned during transport. Separate insurance contracts were invented in Genoa in the 14th century, the first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks. These new insurance contracts allowed insurance to be separated from investment, Insurance became far more sophisticated in Enlightenment era Europe, and specialized varieties developed. Property insurance as we know it today can be traced to the Great Fire of London, initially,5,000 homes were insured by his Insurance Office.
At the same time, the first insurance schemes for the underwriting of business ventures became available, by the end of the seventeenth century, Londons growing importance as a center for trade was increasing demand for marine insurance. These informal beginnings led to the establishment of the insurance market Lloyds of London and several related shipping, the first life insurance policies were taken out in the early 18th century. The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot, edward Rowe Mores established the Society for Equitable Assurances on Lives and Survivorship in 1762. In the late 19th century, accident insurance began to become available and this operated much like modern disability insurance. The first company to offer accident insurance was the Railway Passengers Assurance Company, by the late 19th century, governments began to initiate national insurance programs against sickness and old age
The Baltic states cooperate on a regional level in several intergovernmental organizations. While the native populations of Latvia and Lithuania are known as Baltic people, another Baltic identity, Baltic German, began to develop during the Middle Ages after the Livonian Crusade. After the collapse of Livonia, parts of Latvia and Estonia came under influence of the Commonwealth and this lasted until the 18th century, when the lands of all three modern countries were gradually absorbed into the Russian Empire. The Baltic states gained independence after World War I, but were occupied by the Soviet Union during World War II, all three countries are members of the European Union, NATO and the Eurozone. They are classified as high-income economies by the World Bank and maintain high Human Development Index and Latvia are members of the OECD, while Lithuania is a prospective candidate. The term Baltic stems from the name of the Baltic Sea – a hydronym dating back to the 11th century, although there are several theories about its origin, most ultimately trace it to Indo-European root *bhel meaning white, fair.
This meaning is retained in modern Baltic languages, where baltas, however the modern names of the region and the sea, that originate from this root, were not used in either of the two languages prior to the 19th century. In English Ost is East, and in fact, the Baltic Sea mostly lies to the east of Germany, Norway, in the 13th century pagan Baltic and Finnic peoples in the region became a target of the Northern Crusades. In the aftermath of the Livonian crusade, a crusader state officially named Terra Mariana and it was divided into four autonomous bishoprics and lands of the Livonian Brothers of the Sword. After the Brothers of the Sword suffered defeat at the Battle of Saule, Northern Estonia initially became a Danish dominion, but it was purchased by the Teutonic Order in the mid-14th century. The Lithuanians were targeted by the crusaders, however they were able to resist and it allied with the Kingdom of Poland. After the Union of Krewo in 1385 created a union between the two countries, they became ever more closely integrated and finally merged into the Polish–Lithuanian Commonwealth in 1569.
After victory in the Polish–Lithuanian–Teutonic War, the Polish–Lithuanian union became a political power in the region. In 1558 Livonia was attacked by the Tsardom of Russia and the Livonian war broke out, the rulers of different regions within Livonia sought to ally with foreign powers, which resulted in Polish–Lithuanian and Danish involvement. In the aftermath of conflicts of the 17th century, much of the Duchy of Livonia. These newly acquired Swedish territories, as well as Ingria and Kexholm, at the beginning of the 18th century the Swedish Empire was attacked by a coalition of several European powers in the Great Northern War. Among these powers was Russia, seeking to restore its access to the Baltic Sea, during the course of the war it conquered all of the Swedish provinces on the Eastern Baltic coast. This acquisition was legalized by the Treaty of Nystad in which the Baltic Dominions were ceded to Russia, under Russian rule these territories came to be known as Ostsee Governorates
The Antarctic Peter I Island and the sub-Antarctic Bouvet Island are dependent territories and thus not considered part of the Kingdom. Norway lays claim to a section of Antarctica known as Queen Maud Land, until 1814, the kingdom included the Faroe Islands and Iceland. It included Isle of Man until 1266, Shetland and Orkney until 1468, Norway has a total area of 385,252 square kilometres and a population of 5,258,317. The country shares a long border with Sweden. Norway is bordered by Finland and Russia to the north-east, Norway has an extensive coastline, facing the North Atlantic Ocean and the Barents Sea. King Harald V of the Dano-German House of Glücksburg is the current King of Norway, erna Solberg became Prime Minister in 2013, replacing Jens Stoltenberg. A constitutional monarchy, Norway divides state power between the Parliament, the Cabinet and the Supreme Court, as determined by the 1814 Constitution, the kingdom is established as a merger of several petty kingdoms. By the traditional count from the year 872, the kingdom has existed continuously for 1,144 years, Norway has both administrative and political subdivisions on two levels and municipalities.
The Sámi people have an amount of self-determination and influence over traditional territories through the Sámi Parliament. Norway maintains close ties with the European Union and the United States, the country maintains a combination of market economy and a Nordic welfare model with universal health care and a comprehensive social security system. Norway has extensive reserves of petroleum, natural gas, lumber, the petroleum industry accounts for around a quarter of the countrys gross domestic product. On a per-capita basis, Norway is the worlds largest producer of oil, the country has the fourth-highest per capita income in the world on the World Bank and IMF lists. On the CIAs GDP per capita list which includes territories and some regions, from 2001 to 2006, and again from 2009 to 2017, Norway had the highest Human Development Index ranking in the world. It has the highest inequality-adjusted ranking, Norway ranks first on the World Happiness Report, the OECD Better Life Index, the Index of Public Integrity and the Democracy Index.
Norway has two names, Noreg in Nynorsk and Norge in Bokmål. The name Norway comes from the Old English word Norðrveg mentioned in 880, meaning way or way leading to the north. In contrasting with suðrvegar southern way for Germany, and austrvegr eastern way for the Baltic, the Anglo-Saxon of Britain referred to the kingdom of Norway in 880 as Norðmanna land. This was the area of Harald Fairhair, the first king of Norway, and because of him
The Codanus sinus is the Latin name of the Baltic Sea and Kattegat. According to Pomponius Mela and Pliny the Elder, it is a bay lying beyond the Elbe. It has many islands, the largest one being Scandinavia. The origin of the name is obscure
Sweden, officially the Kingdom of Sweden, is a Scandinavian country in Northern Europe. It borders Norway to the west and Finland to the east, at 450,295 square kilometres, Sweden is the third-largest country in the European Union by area, with a total population of 10.0 million. Sweden consequently has a low density of 22 inhabitants per square kilometre. Approximately 85% of the lives in urban areas. Germanic peoples have inhabited Sweden since prehistoric times, emerging into history as the Geats/Götar and Swedes/Svear, Southern Sweden is predominantly agricultural, while the north is heavily forested. Sweden is part of the area of Fennoscandia. The climate is in very mild for its northerly latitude due to significant maritime influence. Today, Sweden is a monarchy and parliamentary democracy, with a monarch as head of state. The capital city is Stockholm, which is the most populous city in the country, legislative power is vested in the 349-member unicameral Riksdag. Executive power is exercised by the government chaired by the prime minister, Sweden is a unitary state, currently divided into 21 counties and 290 municipalities.
Sweden emerged as an independent and unified country during the Middle Ages, in the 17th century, it expanded its territories to form the Swedish Empire, which became one of the great powers of Europe until the early 18th century. Swedish territories outside the Scandinavian Peninsula were gradually lost during the 18th and 19th centuries, the last war in which Sweden was directly involved was in 1814, when Norway was militarily forced into personal union. Since then, Sweden has been at peace, maintaining a policy of neutrality in foreign affairs. The union with Norway was peacefully dissolved in 1905, leading to Swedens current borders, though Sweden was formally neutral through both world wars, Sweden engaged in humanitarian efforts, such as taking in refugees from German-occupied Europe. After the end of the Cold War, Sweden joined the European Union on 1 January 1995 and it is a member of the United Nations, the Nordic Council, Council of Europe, the World Trade Organization and the Organisation for Economic Co-operation and Development.
Sweden maintains a Nordic social welfare system that provides health care. The modern name Sweden is derived through back-formation from Old English Swēoþēod and this word is derived from Sweon/Sweonas. The Swedish name Sverige literally means Realm of the Swedes, excluding the Geats in Götaland, the etymology of Swedes, and thus Sweden, is generally not agreed upon but may derive from Proto-Germanic Swihoniz meaning ones own, referring to ones own Germanic tribe
The Baltic Sea is a sea of the Atlantic Ocean, enclosed by Scandinavia, the Baltic countries, and the North European Plain. It includes the Gulf of Bothnia, the Bay of Bothnia, the Gulf of Finland, the Gulf of Riga, the sea stretches from 53°N to 66°N latitude and from 10°E to 30°E longitude. The Baltic Sea is connected by waterways to the White Sea via the White Sea Canal. Traffic history Historically, the Kingdom of Denmark collected Sound Dues from ships at the border between the ocean and the land-locked Baltic Sea and they were collected in the Øresund at Kronborg castle near Helsingør, in the Great Belt at Nyborg. In the Little Belt, the site of intake was moved to Fredericia, the narrowest part of Little Belt is the Middelfart Sund near Middelfart. Oceanography Geographers widely agree that the physical border of the Baltic is a line drawn through the southern Danish islands, Drogden-Sill. The Drogden Sill is situated north of Køge Bugt and connects Dragør in the south of Copenhagen to Malmö, it is used by the Øresund Bridge, including the Drogden Tunnel.
By this definition, the Danish Straits are part of the entrance, but the Bay of Mecklenburg, another usual border is the line between Falsterbo and Stevns Klint, Denmark, as this is the southern border of Øresund. Its the border between the shallow southern Øresund and notably deeper water and biology Drogden Sill sets a limit to Øresund and Darss Sill, and a limit to the Belt Sea. The shallow sills are obstacles to the flow of salt water from the Kattegat into the basins around Bornholm. The Kattegat and the southwestern Baltic Sea are well oxygenated and have a rich biology, the remainder of the Sea is brackish, poor in oxygen and in species. While Tacitus called it Mare Suebicum after the Germanic people called the Suebi, the origin of the latter name is speculative. Adam of Bremen himself compared the sea with a belt, stating that it is so named because it stretches through the land as a belt and he might have been influenced by the name of a legendary island mentioned in the Natural History of Pliny the Elder.
Pliny mentions an island named Baltia with reference to accounts of Pytheas and it is possible that Pliny refers to an island named Basilia in On the Ocean by Pytheas. Baltia might be derived from belt and mean near belt of sea, others have suggested that the name of the island originates from the Proto-Indo-European root *bhel meaning white, fair. This root and its meaning were retained in both Lithuanian and Latvian. On this basis, a related hypothesis holds that the name originated from this Indo-European root via a Baltic language such as Lithuanian, yet another explanation is that the name originally meant enclosed sea, bay as opposed to open sea. Some Swedish historians believe the name derives from the god Balder of Nordic mythology, in the Middle Ages the sea was known by variety of names
Copenhagen Stock Exchange
Nasdaq Copenhagen is one of the Nasdaq Nordic Exchanges. Nasdaq Nordic goes back to the 2003 merger of OM AB and HEX plc to form OMX and is, since February 2008, part of Nasdaq, Inc. The exchange was converted to a company in 1996 with share capital issued in a ratio of 60-20-20 to members, issuers of shares. In 1997 the FUTOP Clearing Center A/S, the Danish derivatives market, FUTOP issues and guarantees futures and options on shares and interest rate products. FUTOP products can be traded electronically, in 1998, the CSE and the Stockholmsbörsen formed the NOREX Alliance, a step toward developing a Nordic securities market. Normal trading sessions are from 09, 00am to 05, 00pm on all days of the week except Saturdays and holidays declared by the exchange in advance. The C20 Index, a weighted, market value index comprising 20 Danish blue chips, launched for futures, the KFX Index comprises growth companies in the medical, telecommunications and information technology sectors on the exchanges KVX Growth Market.
The KAX Index is the exchanges all-share index, introduced in 2001 to replace the previous all-share index and it conforms to the Global Industry Classification Standard developed by Morgan Stanley Dean Witter and Standard & Poors