Tryg, a Scandinavian insurance company, and Intact Financial, the largest provider of property and casualty insurance in Canada, offered to acquire Cevian- backed RSA Insurance Group, a British multinational general insurance company, for $9.4bn. The offer is backed by Canadian funds: Caisse de dépôt et placement du Québec, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board. Board of RSA is reviewing the offer. "The transaction would strengthen Intact’s position as a world-class P&C insurer through expanding Intact’s leadership position in Canada with the combination of Intact’s 17% share and RSA’s 5% share of the competitive $46bn Canadian P&C industry, resulting in proforma 2019 direct premiums written of $10bn," Intact.