RSA reports 8% Q1 rise in NWP
In the first quarter of 2011, RSA achieved an 8% year-on-year increase in net written premiums, to £2.1 billion.
Growth was driven by 4% rate and 5% from deals and acquisitions, offset by a 1% reduction in volumes.
The group says it saw strong performances in Canada and Ireland (supported by prior year acquisitions) and UK personal lines, while growth in emerging markets was led by an “excellent” performance in Latin America.
Overall, Emerging Markets’ net written premiums were up 15%, to £235 million.
The UK delivered overall premiums of £760 million, up by 9% on the first quarter of 2010.
RSA achieved a 20% rate increase in UK Personal Motor and 5% in Household, while in Commercial it achieved rate increases of 6% on Liability, 5% on Property and 10% on Motor.
Group chief executive officer, Andy Haste, comments: “We remain confident in our outlook for 2011 and as it stands today, continue to expect to deliver a combined operating ratio for the group of better than 95%.”
Category: Financials, Insurance News, Royal & Sun Alliance News
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