LONDON (Reuters) - British insurer RSA (L:RSA) said on Monday that Zurich Insurance (VX:ZURN) had ended discussions over a possible 5.6 billion pound offer for the company, but said July and August trading had been positive.
Zurich earlier said it had abandoned its proposed bid, first mooted in July, after forecasting a loss in its general insurance business in the third quarter.
RSA said Zurich had confirmed that its due diligence findings were in line with the Swiss insurer's expectations and they had not found anything that would have prevented them from proceeding with a transaction on the terms announced on August 25.
Investor Cevian Capital, RSA's top shareholder, was not immediately available for comment.
