Catastrophe Modeling Firm RMS announced for sale by its owner

12 July 2021 — Daniela GHETU
Daily Mail and General Trust plc (DMGT) and Rothermere Continuation Limited (RCL) announced today a possible major reorganization of DMGT that may include the sale of its s Insurance Risk division ("RMS"). DMGT has emphasized that discussions are ongoing, but there is no certainty that a transaction will result.

If negotiations are successful, the RMS sale could be completed in Q3 of this year and, according DGMT's estimations would mark a further significant milestone in the transformation of the British media group and would generate a "substantial cash income". In fact, the successful divesting of RMS is one of the conditions that need to be satisfied in order for RCL to make "a possible cash offer to acquire the entire issued and to be issued share capital of DMGT not already owned by RCL".

RMS, one of the leading catastrophe risk modelling companies serving the insurance and reinsurance industry. No details are yet known concerning the possible bidders.

512 views
Share |