RBSI reports 9% slump in operating profit
Royal Bank of Scotland Insurance this morning reported a 9% decline in operating profit to £683m on stable income of £5.6bn. The insurance group was impacted to the tune of £274m by the floods.
The UK combined operating ratio for 2007, including manufacturing costs,increased to 98.0%, reflecting a higher loss ratio and the reduction in partnership income.
Excluding the impact of the floods
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