Fitch keeps RSA on negative watch
Rating agency warns that a failure to achieve a 97% COR and a suitable return on equity could lead to a downgrade.
Fitch Ratings has maintained RSA's negative watch rating.
The insurer's financial strength rating of A was first placed on negative back in December 2013 after the agency said RSA's key financial metrics were "weaker than its ratings would suggest".
Today, Fitch said it expects to "resolve" the negative watch status once the insurer completes its proposed rights issue, scheduled to take place during Q2 2014.
The agency stated: "On successful completion of the rights issue, Fitch expects to
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