RSA half year results show premiums up 9%
RSA has announced UK net written premiums of £1.5bn in the first half of 2010, up by 9% compared with the same period of 2009. However, it added its combined operating ratio had slipped from 97.4% to 98.9% for the comparable periods as a result of severe winter weather and large losses, which together are £42m worse than last year.
In personal lines the insurer report premiums up by 10% to £0.6bn, with motor up by 14% and household up by 5%. It attributed the rises to rating actions and strong growth in personal broker due to increased shares on targeted broker panels.
Group chief executive officer, Andy Haste, stated: "Given pricing and market conditions, we have been deliberately underweight in the broker market. However, in late 2009 we started to see rate come back and, in the first half of 2010, we have implemented
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