RSA reports £628m profit but UK commercial premium dips as it holds underwriting nerve
Royal and Sun Alliance this morning reported a profit after tax of £628m. This includes release of £103m of deferred tax reserves in Codan following the minority buyout.
The insurer added it had written premiums of £5.8bn up 6% (7% at constant exchange rates) and recorded a combined operating ratio of 94.9% (92.8% excluding impact of UK flood losses).
RSA said it
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