RSA blames UK weather as group profits plummet by 40%
The insurer also saw its underwriting result drop by almost a quarter (23%) from £206m (H1 2011) to £158m (H1 2012).
RSA blamed the impact of the UK's adverse weather conditions and the two earthquakes which struck Italy in May for the decline in profitability.
It also attributed the closure of its Czech Direct operation and the reduction in headcount by a third at its Group Corporate Centre for the hitting the company's profits before tax which fell by 38% to £233m (H1 2011: £376m).
Its
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Insurer
Videos/Podcasts
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
Subscribe to our daily newsletter for all the latest news
Most read
- Mulsanne accuses Marshmallow of stealing trade secrets in court battle
- Interview: A niche focus
- Former Tesco Bank boss, Benny Higgins, joins Markerstudy
- Acturis partners with the RAC for breakdown cover
- Clear targets net zero carbon emissions by 2030
- Aston Lark buys DNA Insurance
- Ian Donaldson lifts lid on Atlanta's Marmalade deal