‘Positive momentum’ for RSA

Nine month results at RSA show strong positive momentum, with Q3 profit trends well above 2014 and improving again on those reported for the first half.

Group net written premiums (NWP) for Q3 were £4.4bn. In the UK, NWP were up two per cent, whilst Ireland experienced a five per cent decrease.

In a statement, Stephen Hester, RSA Group chief executive, commented: ‘We are very pleased with progress to date in RSA’s turnaround. If we can keep the improvements coming, the future is bright for RSA as a high quality, high performing leader in its markets.

‘Our Plans are based on three pillars of work, each going well. The strategic refocus is nearing completion with the sale of our Latin America businesses announced in September, the last major element. Our balance sheet and capital work is also approaching satisfactory outcomes. And our complete operational overhaul of the business is showing good results and gathering still further momentum.

‘Zurich’s unsolicited approach to RSA was a distraction in Q3. It is pleasing that our business continued to perform well despite that. A tribute to our people and franchise.

‘Insurance markets remain challenging and financial markets volatile. Within those constraints, RSA is making strong progress on the path to high quality and sustained business outperformance.’