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Daily Insurance Industry News
Sunday 21st of January 2018
February 25, 2010

RSA sees decline in annual profits

by Richard Kilner

Story link: RSA sees decline in annual profits

RSA sees decline in annual profits

RSA has released its financial performance figures for 2009, describing the year as one that saw the firm enjoy a strong performance.

Net written premiums rose by 4% to £6.7bn, and RSA achieved an operating result of £777m.

Pre-tax profits were recorded at £554m, a decline of 27% from 2008’s pre-tax profits of £759m.

Profits after tax were similar, down 28% from £486m to £419m.

Last year the firm saw pre-tax profits rise by 13%, as it announced a headcount reduction of 1,200 to help cut costs.

Group Chief Executive Officer Andy Haste has said that the firm’s capital position remains strong, and that it managed to achieve a positive underwriting result in all regions.

RSA has forecast further good results in the future, and predicts the UK will move into positive territory during 2010.

 

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