ROYAL & SUN ALLIANCE (RSA).

Investors Chronicle, August, 2006

Royal & Sun Alliance (RSA) delivered a reassuring set of first-half results. The combined ratio (of claims to premiums) for the core group (excluding the US) was 91.7 per cent, which was 1.1 points better than in the comparable period last year. RSA says that the ratio for the full year should now be inside its prior guidance, of around 95 per cent.

Net written premiums for the core business rose 2 per cent to GBP2.8bn, with strong growth in Canada, Latin America and Scandinavia. This offset the performance of the UK, where net written premiums fell from GBP1.4bn to GBP1.3bn, reflecting a highly competitive commercial sector. However, the overall underwriting result in the UK improved as personal lines, and household insurance in particular, reported strong...

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