Profits fall by nearly a third at RSA
Year end results from insurer RSA show profits after tax fell by 28% in 2009 compared to 2008.
Profit after tax at RSA has fallen by £167m to £419m despite a 4% increase in written premiums. However the combined ratio deteriorated only marginally.
In its breakdown of worldwide figures RSA stated that net written premiums for the UK market fell by 3% to £2,632m.
Looking forwards to 2010 the company stated that "although economic uncertainties remain" it has seen a good start to 2010 and expects the UK to "move to positive territory".
Andy Haste, group CEO of RSA, commented: "2009 was a
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