RSA reported a 1% increase in group net written premiums at £4.9bn. The disappointment came from the UK market with lower premiums, a combined ratio at 110% and an underwriting loss of £70m. The pre-tax profit was affected by elevated weather costs. The group’s weather ratio stood at 4.6% vs. a 5-year average of 3.2%. We will lower our estimates.
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Disappointing figures
- Published:
28 Sep 2018 -
Author:
Bassem Neifer -
Pages:
2
RSA reported a 1% increase in group net written premiums at £4.9bn. The disappointment came from the UK market with lower premiums, a combined ratio at 110% and an underwriting loss of £70m. The pre-tax profit was affected by elevated weather costs. The group’s weather ratio stood at 4.6% vs. a 5-year average of 3.2%. We will lower our estimates.