RSA posts drop in premium in H1 2020
Provider expects Covid-19 premium slip of £110m for the group, including an estimated £81m impact in the UK & International business, as it also reveals a £33m loss on its UK and London market exit portfolios.
RSA has reported a rising group underwriting profit but falling premium for the first half of 2020.
According to its financial results, published on 30 July, RSA’s group underwriting performance (excluding exits) grew by 33% to £240m (H1 2019: £181m).
Group total underwriting profit for the six month period was £207m, up from £153m in the first half of last year.
Combined operating ratio for the group was 92.2%, an improvement from the 94.3% reported in H1 2019.
However, net written premiums
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