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Daily Insurance Industry News
Saturday 23rd of June 2018
February 24, 2011

RSA reports 2010 results

by Richard Kilner

Story link: RSA reports 2010 results

RSA reports 2010 results

RSA has reported its financial results for 2010, during which net written premiums rose by 11% from £6.7bn to £7.5bn.

Emerging markets managed to exceed the net written premium target of £1bn, and net written premiums in India recorded strong growth, rising by 35% to £116m.

RSA also predicted strong growth during 2011, with international net written premiums expected to exceed 10% growth in the present year.

However, pre-tax profits fell from £554m in 2009 to £474m in 2010.

Profits after tax also declined, from £419m in the previous year to £355m.

In 2009, the firm also recorded a fall in profits whilst net written premiums rose.

Group Chief Executive Officer Andy Haste described 2010 as an extremely difficult year, but welcomed the robust underwriting performance RSA has achieved.

Haste went on to say that the firm entered 2011 confidently, despite ongoing difficult conditions and forecast strong growth, especially overseas.

 

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