RSA released its trading update this morning, with declining underlying earnings. The tough winter increased the group’s weather-related costs by 5.1%. The improvement in large losses, attritional loss and controllable expense ratios were not enough to cover this impact. Investment income continued on its downturn trend. Sales were flat (up 1% at constant FX). The good news was its strong capital position, which is a guarantee for the dividend. Model under review.
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A new bad weather bill
- Published:
10 May 2018 -
Author:
Bassem Neifer -
Pages:
3
RSA released its trading update this morning, with declining underlying earnings. The tough winter increased the group’s weather-related costs by 5.1%. The improvement in large losses, attritional loss and controllable expense ratios were not enough to cover this impact. Investment income continued on its downturn trend. Sales were flat (up 1% at constant FX). The good news was its strong capital position, which is a guarantee for the dividend. Model under review.