RBS Insurance records £295m loss and 115% COR in 2010
Royal Bank of Scotland Insurance has decribed 2010 as "a disappointing profit year", after reserve strengthening for bodily injury claims and severe weather, resulted in a loss of £295m (2009: £58m profit) and a combined opertaing ratio of 115% (2009: 106%).
However, it added the final quarter of 2010 saw RBSI "end a challenging year for the industry in an improving position", with progress on its strategic investment programme and a reduction in losses
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