Higher weather-related costs and large loss challenges in Commercial Lines have driven down RSA’s underlying result (-20% to £492m). Scandinavia remains the largest contributor to the Group’s operating earnings (59%). Net profit stood at £326m, lower than our estimates (£355m). The insurer proposed a final dividend of 13.7p (vs. 14.2p expected by us). The capital position was above the targeted range (130-160%) at 170%. In total, RSA’s figures disappointed
01 Mar 2019
More time is needed to recover
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More time is needed to recover
- Published:
01 Mar 2019 -
Author:
Bassem Neifer -
Pages:
3
Higher weather-related costs and large loss challenges in Commercial Lines have driven down RSA’s underlying result (-20% to £492m). Scandinavia remains the largest contributor to the Group’s operating earnings (59%). Net profit stood at £326m, lower than our estimates (£355m). The insurer proposed a final dividend of 13.7p (vs. 14.2p expected by us). The capital position was above the targeted range (130-160%) at 170%. In total, RSA’s figures disappointed