RSA records £165m losses

Royal & SunAlliance has reported a loss for the first nine months of 2003, fuelling concerns about its long-term future.

RSA recorded losses of £165m, up from £125m for the same period in 2002.

Its overall combined ratio deteriorated to 108% from 104%.

Group chief executive Andy Haste said: "We've taken management actions to deal with our legacy problems. An overall combined ratio of 108% is not adequate."

Andrew Paddick, director general of the Institute of Insurance Brokers, said: "Financial

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