Hester: RSA can remove "dunce’s cap”
Hester hails “best results in a decade” for first half of 2015 as profits increase and COR improves.
RSA group CEO Stephen Hester said the insurer "can remove the dunce's cap" following its results for 2015 which showed operating profit of £259m - up 84% - and a core group combined operating ration (COR) of 96.9% (H1 2014: 100.3%).
Profit before tax also grew from £69m in the first half of last year to £288m. Underwriting profit improved dramatically from a loss of £23m for the first six months of 2014 to profit of £101m.
Hester hailed the results as "the best in a decade" and the best since
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