RSA UK reports falling profits in 2017
Provider posts underwriting loss of £116m as COR deteriorates to 104.3% due to catastrophe losses.
RSA UK has posted an underwriting loss of £116m in 2017, compared to an underwriting profit of £123m in 2016.
The insurer stated that the losses were a result of adverse weather events in the US and Mexico, adverse large loss volatility and higher claims inflation in its household business.
RSA further reported an operating profit of £67m in its UK and International business (2016: £237m) and its combined operating ratio (COR) deteriorated to 104.3% in 2017 from 95.4% in 2016.
COR
In personal
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