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RSA investor cuts back on shareholding | Insurance Business

It looks like investment banking giant JPMorgan Chase & Co is cutting back, if two separate developments this week are anything to go by. Among those hit with a reduction in investment is RSA Insurance Group. 

A report by Alliance News said JPMorgan Chase’s interest in the insurer has fallen below the minimum threshold. Previously, the shareholder held a 5% stake in RSA.     

Meanwhile the investment bank has also reduced its holding in another firm.

Citing a statement by Bid Corp, Reuters noted a stake disposal by JPMorgan Chase. From 11.4%, the latter’s entire beneficial interest in the South African company now stands at 9.47%.

The reasons for the investment cuts were not specified.

 

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