RSA Insurance Group Plc, the U.K.’s biggest non-life insurer, said nine-month revenue rose 4 percent on higher sales in Canada and Scandinavia.
Net written premiums climbed to 5 billion pounds ($8.2 billion) in the nine months to Sept. 30, the London-based insurer said today in a statement. RSA said it expects to deliver a combined operating ratio of 95 percent this year.
Highlights
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Net written premiums of £5.0bn up 4%
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IGD surplus remains strong at £1.7bn representing coverage of 2.4 times
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Net asset value per share excluding IAS 19 of 104p, compared with 95p at 30 June1
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Total net asset value per share of 98p compared with 101p at 30 June1
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€500m subordinated guaranteed bond called on 15 October
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Expect to deliver a COR of around 95% in 2009
Andy Haste, Group CEO of RSA, commented: “We have produced another robust performance with our net written premiums again demonstrating the resilience of our strong and diversified portfolio. While economic conditions remain challenging, we are now seeing some encouraging signs, particularly in International and Emerging Markets. We are well positioned and taking the right actions to successfully manage through the downturn and take advantage as conditions improve.”
To have further details on Q3 2009 RSA’s revenue click here
