RSA sees 15% drop in quarter profit
Royal and Sun Alliance has recorded a first quarter profit as a result of the sale of a number of units in the last year. Net income was £51m compared with a loss of £16m in the same period last year. The company's share rose just over 7% on the news.
The company said that net premiums fell to £1.22bn in the quarter compared to £1.95bn the year before — due to the sale of units — but that its combined ration fell to 98.7% from 99%.Operating profit
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