RSA unveils record underwriting profit as Hester declares turnaround 'largely complete'

Stephen Hester

Operating profit improved 43% to £523m, and increased 57% on a constant exchange rate. Group underwriting profit improved from £41m in 2014 to £220m last year. The current year underwriting profit was a record at £129m (2014:£73m), with the combined operating ratio improving to 96% compared with a 98.8% COR the previous year. The insurer benefitted from a very strong performance in Canada where the COR improved from 98.6% in 2014 to 91.7% (underwriting profits cl