UPDATE 1-RSA says receives $8.8 bln proposed cash offer from Zurich

LONDON, Aug 25 (Reuters) - British insurer RSA received a 550 pence all-cash takeover proposal from rival Zurich Insurance on Tuesday, valuing the firm at 5.6 billion pounds ($8.82 billion) and paving the way for one of Europe's largest insurance deals.

from Reuters: New Issues News http://ift.tt/1Ibshpz