Bloomberg News

Rogers Mauritius Rises Most in More Than 2 Years on Merge Plans

October 14, 2011

Oct. 14 (Bloomberg) -- Rogers & Co., a Mauritian company with interests in financial services and aviation, rose the most in 28 months after saying its insurance units will merge with those of Swan Insurance & Co and Anglo-Mauritius Assurance Society Ltd.

The stock advanced as much as 8.2 percent to 305 rupees and traded up 6.4 percent, the biggest intraday gain since June 2009, to 300 rupees by 12:48 p.m. in Port Louis, the capital.

Rogers, Swan and Anglo-Mauritius plan to combine parts of their businesses to create the largest insurer in the Indian Ocean island nation, the companies said in statements after the market closed yesterday.

--Editors: Ana Monteiro, Gavin Serkin

-0- Oct/14/2011 08:49 GMT

To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at gbell16@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net


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