RSA commercial rates off by 5%
Royal & SunAlliance has admitted its commercial rates targets in the UK are adrift by around 5%, how...
Royal & SunAlliance has admitted its commercial rates targets in the UK are adrift by around 5%, however, this has not impacted overall growth.
The UK operation of the insurer produced a combined operating ratio of 92.9% during the first nine months of the year; this compares with 96% during the same period last year.
Underwriting profit was £111m, up 66% over the same period last year, which was £67m. Net written premiums, at £2bn, were up 4% on 2004 third-quarter results.
In a statement, RSA said
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