London-based RSA Insurance Group Plc has acquired Amsterdam-based rival Intouch Insurance Group (IIG) for €70 million (£59.1 million) in cash.

London-based RSA Insurance Group Plc has acquired Amsterdam-based rival Intouch Insurance Group (IIG) for €70 million (£59.1 million) in cash.

IIG owns direct insurance operations in Poland, the Czech Republic and Russia.

In the first three months of 2009, RSA reported an increase of group net premiums of eight per cent to £1.9 billion.

Andy Haste, CEO of RSA, commented: “Our first quarter net written premiums have again demonstrated the resilience of our strong and diversified portfolio.”

Haste added: “The group’s financial position remains strong, reflecting our high quality, low risk investment strategy and robust capital position and we are confident of delivering a strong result in 2009.”