London, 26 September 2014 -- Moody's Investors Service has assigned a Baa1(hyb) rating to the proposed fixed rate reset guaranteed subordinated notes ("notes") to be issued by RSA Insurance Group plc ("RSA"). These notes have a proposed 31 year maturity, are callable after 11 years, and will be guaranteed by Royal & Sun Alliance Insurance plc ("RSAI", A2 IFSR, negative) which is RSA's main operating company. The notes will qualify as Lower Tier 2 capital and are intended to qualify as Tier 2 Capital under Solvency II. The rating is based on the expectation that the notes will be issued and that there will be no material difference between current and final documentation. The outlook on this debt is negative in line with the negative outlook on all of RSA Group's main long-term ratings.

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