RSA Insurance Group Plc has recently announced what the group described as ‘excellent’ operating results for the first quarter of the year 2021.
In a trading update, which the insurer clarified does not constitute an interim report, RSA said its gross written premium grew 2% from the same period in 2020 to £2.05 billion (around SG$3.79 billion) this time around. Meanwhile, group business operating profit nearly doubled.
Without providing the numbers, the insurance group highlighted that each of RSA’s three regions – Scandinavia, Canada, and UK & international – performed ahead of the previous year. The large loss ratio stood at 9.8%, while the attritional loss ratio improved overall.
Additionally, the company’s estimated Solvency II coverage ratio was 200% as of March 31, with tangible shareholders’ equity at £3.25 billion.
Chief executive of the group Stephen Hester noted, “RSA’s run of record performance continued in Q1 as the group delivered a combined ratio of 86%, our best such quarterly result of the last decade.”
