RSA Insurance YTD Group Net Written Premiums Rise 8% - Quick Facts

(RTTNews) - RSA Insurance Group Plc. (RSANY.PK, RSA.L, RSA) said that its year-to-date Group net written premiums of 5.08 billion pounds at the third quarter of 2017 rose 8 percent on a reported basis, and also increased 3 percent at constant currency rates, compared to the year-ago quarter. Volumes accounted for 1 percent growth in the quarter, with rate increases adding 2 percent.

UK premiums of 2.02 billion pounds increased 5 percent as reported and also rose 4% at constant currency rates, with volume growth of 3 percent and rating increases adding 1 percent.

Stephen Hester, RSA Group Chief Executive, said, "The progress at RSA overall leaves Group profits ahead of the same period in 2016 though by less than we had targeted. We are continuing to drive business enhancements across the Group, whilst taking further underwriting action in some portfolios to improve performance for 2018."

RSA Insurance noted that insurance and financial market conditions are largely unchanged, with the exception of challenges in wholesale and international commercial markets from U.S. and Caribbean Cat activity. The company added that the impact on market pricing trends from these events is as yet unclear.

The company noted that earnings per share year to date is ahead of 2016, though held back by third-quarter underwriting results.