RSA reveals 2021 losses from continuing operations
The insurer’s figures were hit by reserving changes and acquisition costs due to the mid-year takeover as net written premiums grew.
RSA has reported a pre-tax loss of £228m from continuing operations in its first set of results since being bought by Intact Financial Corporation and Tryg on 1 June.
The continuing operations consist of the United Kingdom, Ireland, Europe and Middle East as the Scandinavian and Canadian businesses were hived off.
The £228m loss featured an underwriting loss of £137m compared to a £33m profit in 2020.
According to the provider, the underwriting performance was profitable but was outweighed by
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