RSA Insurance Says Q3 Overall Results Disappointing With Weak UK

(RTTNews) - RSA Insurance Group Plc.(RSANY.PK, RSA.L, RSA) reported Friday that its third-quarter group net written premiums grew 4% at constant exchange versus the prior year.

RSA reported strong international businesses but poor UK underwriting results, resulting in a disappointing quarter overall, the company noted.

Large and weather losses were above expected levels in Q3 overall, but particularly elevated in the UK.

Pre-tax profit for the year-to-date was higher than 2017 but lower on an underlying basis due primarily to elevated weather costs.

Stephen Hester, RSA Group Chief Executive, said, "RSA's international businesses performed well in Q3, making strong progress against our best-in-class ambitions. However, our UK and 'London market' business reported an underwriting loss which is disappointing. Actions to improve in the UK are well underway and we are determined to restore satisfactory performance whilst continuing our progress internationally."