RSA posted H1 20 underwriting profit at £240m, up 32.6% yoy and a combined ratio of 92.2%. On the operating side, the COVID-19 impact was broadly neutral and the decline in the net result (-11.4% to £140m) was driven by lower investment income following financial market turmoil. We expect higher claims in H2, mainly due to the catching-up in reporting them by policyholders. The insurer did not announce an interim dividend despite the Solvency II ratio being in line with targets.
30 Jul 2020
Soft H1, but nothing is yet decided
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Soft H1, but nothing is yet decided
- Published:
30 Jul 2020 -
Author:
Bassem Neifer -
Pages:
3
RSA posted H1 20 underwriting profit at £240m, up 32.6% yoy and a combined ratio of 92.2%. On the operating side, the COVID-19 impact was broadly neutral and the decline in the net result (-11.4% to £140m) was driven by lower investment income following financial market turmoil. We expect higher claims in H2, mainly due to the catching-up in reporting them by policyholders. The insurer did not announce an interim dividend despite the Solvency II ratio being in line with targets.