RSA posted lower underwriting earnings at £153m. However, we have to take into consideration the impact of the exits of some portfolios which led to a loss of £28m. RSA is preparing a cleaner business for the coming years. The Scandinavian operations posted reduced underwriting earnings, impacted mainly by high claims in Commercial lines. The interim dividend was revised up to 7.5p, +3% yoy. We will adjust our estimates, but the pace of business reorganisation satisfies us.
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A sweep to unprofitable business
- Published:
01 Aug 2019 -
Author:
Bassem Neifer -
Pages:
3
RSA posted lower underwriting earnings at £153m. However, we have to take into consideration the impact of the exits of some portfolios which led to a loss of £28m. RSA is preparing a cleaner business for the coming years. The Scandinavian operations posted reduced underwriting earnings, impacted mainly by high claims in Commercial lines. The interim dividend was revised up to 7.5p, +3% yoy. We will adjust our estimates, but the pace of business reorganisation satisfies us.