Royal & Sun Alliance acquires Shannon

Shannons Corporation, Australia's largest insurance agency and auction house for vintage, classic and collectable vehicles has been sold to Royal & Sun Alliance Insurance Limited.
Royal & Sun Alliance Insurance Limited has been a corporate partner with Shannons for almost 10 years and negotiations for the sale had been in progress for some months before the untimely death of Robert Shannon on 6 March 2000.
Royal & Sun Alliance intend to continue to operate Shannons Corporation as a specialist provider to and supporter to the classic car movement as a separate business unit within the RSA group.
According to George Humble, chairman of the board of directors at Shannons, this development would provide new opportunities for the future of the company and would fulfil the dreams of the founder, Robert Shannon.
Royal & Sun Alliance's Richard Clews said that the purchase of Shannons was in keeping with RSA's strategy of operating specialist insurance business as stand alone