RBSI reports improved ratio for first six months of 2004
Royal Bank of Scotland Insurance today reported total income was up 89% or £1.1bn to £2.4bn for the first six months of 2004, following the acquisition of Churchill. However, excluding Churchill, RBSI said total income grew by 17%.
RBSI recorded a UK combined operating ratio of 92.7% compared with 91.2% for the full year 2003. Excluding Churchill, the UK ratio improved from 89.1% for the first half of 2003 to 89.0%.After
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