RSA results show strong growth
Royal & Sun Alliance recorded a £397m increase in net written premiums to £2.9bn in the first six months of this year. The company said this reflected the recapture of the Munich Re quota share and profitable growth in Scandinavia, Canada, Latin America. More Than’s' expense ratio for the half year also reduced to 25.1%, and RSA said it wasconfident of achieving its target of a sub 25% expense ratio by the end of 2005.
The combined operating ratio for the UK business was 92.5%, an improvement on the the same period last year which was 95.3%m and a group COR of 95.6%. The underwriting profit was £79m, an improvementOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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