RSA posts £338m loss in "disappointing" 2013 results
RSA's Irish arm made a £220m underwriting loss, leading to poor overall performance.
RSA has reported “disappointing” headline results, with a post-tax loss of £338m, compared to a profit of £327m in 2012.
The provider’s underwriting result was £57m, down from £358m last year.
The Irish arm of the business made an underwriting loss of £220m, arising from “management irregularities, reserve strengthening and Q4 adverse weather”.
RSA's combined operating ratio deteriorated from 95.6% to 99.6%.
The company attributed the “poor” performance in large part to issues in its Irish
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