Ashurst Morris Crisp has cemented its ties with key client Royal & Sun Alliance (RSA) after advising on the insurer’s £960m rights issue.

The deal will be regarded as a significant instruction for Ashursts because it has been vying with Allen & Overy (A&O) for instructions from RSA over the last few years. Corporate partners Chris Ashworth, James Perry and Roger Walsom led the team on the deal, one of the biggest rights issues of the year.