Bryce Elder's comments about Zurich's takeover of RSA aired on FT Alphaville's markets live this morning made me chuckle - he really is a witty writer (well, much more amusing than me, at least).
One thing, though, Bryce hasn't touched upon, yet, is Dunbar and whether the RSA board has taken a hard look at Zurich's former banking arm in the UK.
James Hurley, a former colleague from time at The Daily Telegraph, dug up some interesting angles on Zurich's Dunbar earlier this year, revealing in the The Times "Zurich is battling claims that one of its subsidiaries (Dunbar) unfairly forced small businesses and property developers into bankruptcy".
Here is a link to the The Times article: http://www.thetimes.co.uk/tto/business/industries/banking/article4396515.ece
Food for thought for the RSA board, I guess, ahead of recommending a formal £5.6 billion takeover offer from Zurich?
Or, perhaps the hard-nosed capitalists running the insurer just don't care about Zurich's past activities in the UK property lending market...
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