RSA racks up £165m loss
Royal & Sun Alliance has recorded a loss for the first nine months of the year of £165m, compared to £125m for the same period last year.
RSA's combined ratio deteriorated to 108.1% from 104% for the same period last year, although the company claimed it was 96.2% for on-going operations.RSA added that it estimated subsidence claims in the UK will be about £70m above that expected in a normal year following the dry summer.
Overall, RSA said the UK underwriting profit for the year to date was £40m, a £104m improvement over the same period of 2002. The combined ratio for the nine months was 98.0% and for the third quarter was 100.0%
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