
RSA not scared to "walk away" from business - Stephen Hester

RSA group chief executive Stephen Hester has stated that the insurer’s UK and London market business is a “substantial headache”.
The comment followed RSA’s shock warning last week that its UK underwriting business had suffered a loss of £70m in the third quarter of 2018.
In addition, the combined operating ratio for the UK and London market business deteriorated to 110%.
In a call with analysts on 28 September Hester stated that a substantial amount of the loss was down to “random volatility
More on Insurer
POLL: FCA VALUE MEASURE
Most read
- Legal Protection Group confirms loss of Inter Hannover capacity
- Towergate’s Andy Parkin resurfaces at Gauntlet
- Laurent Matras takes interim Axa retail MD role as Gareth Howell departs
- Profits up at Allianz in 2018
- Consolidation opens up opportunities, says Romero boss
- Ghost broker jailed for two years
- Up to 275 jobs at risk at Axa XL in the UK