Latham & Watkins advised the underwriting syndicate consisting of Danske Bank and Morgan Stanley, Citi, HSBC and Nordea in connection with a rights issue by Tryg A/S to raise gross proceeds of DKK 37 billion (£4.3 billion). The offering comprises 352,505,989 new shares at DKK 105 per new share. The rights issue is the largest ever equity raise by a Scandinavian listed company. Tryg is one of the largest non-life insurance companies in the Scandinavian region. The rights issue enables Tryg to finance its contribution to the cash consideration for its acquisition of RSA Insurance Group plc (RSA), alongside Intact Financial Corporation. Following the acquisition, Tryg will retain RSA's Swedish and Norwegian businesses, and will co-own RSA's Danish business on a 50:50 economic basis. Intact Financial Corporation will retain RSA's Canadian, UK and international operations. The Latham team was led by London corporate partners James Inness and Anna Ngo, with associate Nick Fisher. Corporate partner Ryan Benedict and capital markets lawyer Irene Pistotnik advised on US securities matters, while London corporate partner Douglas Abernethy advised on UK Takeover Code matters. Advice was provided in conjunction with Bruun & Hjejle in Denmark.~~