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RSA Insurance Group PLC (RSA.L)

RSA.L on London Stock Exchange

641.00GBp
20 Oct 2017
Change (% chg)

15.00 (+2.40%)
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626.00
Open
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644.50
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Volume
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672.50
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511.00

Latest Key Developments (Source: Significant Developments)

RSA Insurance says UK unit hurt by catastrophe losses in Q3
Monday, 25 Sep 2017 10:53am EDT 

Sept 25 (Reuters) - RSA Insurance Group Plc ::RSA INSURANCE - "TRADING RESULTS FOR Q3 TO DATE HAVE BEEN POSITIVE, CONSISTENT WITH PRIOR TRENDS, ACROSS COMPANY WITH EXCEPTION OF UK BUSINESS SEGMENT".RSA INSURANCE GROUP - "HERE, CATASTROPHE LOSSES FROM US, CARIBBEAN AND MEXICO WILL IMPACT SEPTEMBER RESULTS IN MARINE AND INTERNATIONAL PORTFOLIOS".RSA INSURANCE GROUP PLC - "AT PRESENT LOSSES NOTIFIED ARE WELL BELOW REINSURANCE LIMITS THOUGH FINAL POSITION WILL TAKE SOME WEEKS TO EMERGE".RSA INSURANCE - "UK UNDERLYING RESULTS IN QUARTER CONTINUE TO REFLECT CHALLENGES VISIBLE IN H1, AGAINST WHICH UNDERWRITING ACTIONS ARE BEING TAKEN".  Full Article

Insurer RSA H1 operating profit rises 15 pct to 360 mln stg
Wednesday, 2 Aug 2017 02:00am EDT 

Aug 2 (Reuters) - Rsa Insurance Group Plc :H1 operating profit rose 15 percent to 360 million stg.Interim dividend 6.6 penceper share.Return on tangible equity 1 16.6%..Interim dividend up 32%..Underlying earnings per share up 31%.Group operating profit £360m up 15% (h1 2016: £312m).Group underwriting profit of £222m, up 28% (h1 2016: £174m).Group combined ratio of 93.2% (h1 2016: 94.7%).Group premiums of £3.4bn up 11% at reported fx, and up 3% at constant fx.Investment income of £171m (h1 2016: £187m) down 9%.Pre-Tax profit of £263m, up 78% (h1 2016: £148m).Interim dividend of 6.6p/ordinary share declared, up 32% (h1 2016: 5.0p.Solvency ii coverage ratio of 163% after dividend accrual (31 december 2016: 158%), slightly above 130-160% target range.On track to deliver >£400m gross annualised savings by 2018 (c.£330m achieved to date).  Full Article

RSA CFO says holding onto Middle East business
Thursday, 4 May 2017 05:24am EDT 

May 4 (Reuters) - Rsa :Cfo scott egan says ~keeping middle east business as part of core business after failure to sell it.Cfo scott egan says ~not planning more disposals, acquisitions also not priority.Cfo scott egan says ~assume britain is going to have hard brexit, looking at how european branch structure will need changing.  Full Article

RSA Q1 net written premiums rise 14 pct to $2.20 bln
Thursday, 4 May 2017 02:00am EDT 

May 4 (Reuters) - Rsa Insurance Group Plc :Q1 2017 trading update.Premium income 1 up 14% (4% at constant exchange)." year has begun well for rsa. Results to date are strong.Group net written premiums of £1,710m ($2.20 billion) for q1 2017 are up 14% 1 as reported, and up 4% 1 at constant fx rates, versus q1 2016.Volumes accounted for 2% growth in quarter, with rate increases also adding 2%.Operating profit in q1 was strong and ahead of our plans.A net charge (after release of fy16 margin build) of c.£40m in uk relating to change in ogden discount rate.However, this was more than offset by positive reserve development elsewhere in group.Expect reduced interest costs of c.£54m for 2017 and a little over £40m in 2018 (2016: £99m).Group's solvency ii coverage ratio was 166% 2 at 31 march 2017 (31 december 2016: 158%.  Full Article

Insurer RSA CEO Hester pay jumps to $5.39 mln in 2016- annual report
Wednesday, 22 Mar 2017 10:56am EDT 

Rsa : Ceo stephen hester paid 4.33 million pounds ($5.39 million) in 2016 versus 2.47 million stg in 2015 - annual report . hester received 100 pct of potential bonus after firm's "excellent" performance - annual report Further company coverage: [RSA.L] ($1 = 0.8041 pounds) (Reporting By Carolyn Cohn) ((carolyn.cohn@thomsonreuters.com;)).  Full Article

RSA Insurance announces tender offers to purchase certain notes
Tuesday, 21 Mar 2017 08:23am EDT 

RSA Insurance Group Plc : Announces tender offers to purchase certain outstanding notes . Offer to holders of outstanding 500 million stg fixed rate guaranteed subordinated step-up notes due 2039 . Purpose of each of offers is to optimise capital structure of group .Expiration deadline: 4.00 pm (London Time) on March 29, 2017, unless extended.  Full Article

Rsa Insurance says intends to issue debt
Wednesday, 8 Mar 2017 07:31am EST 

Rsa Insurance Group Plc - :May issue perpetual restricted tier 1 contingent convertible notes in regulation s registered format in 1 or more Scandinavian currencies.  Full Article

UK's Ministry of Justice says Ogden rate announcement to be out Feb. 27
Friday, 24 Feb 2017 12:00pm EST 

UK's Ministry of Justice:Ministry of justice - Lord Chancellor would announce result of her review of discount rate for personal injury claims on morning of 27 February.  Full Article

RSA says Johanna Waterous to retire as director from May 5
Thursday, 23 Feb 2017 02:15am EST 

Rsa Insurance Group Plc : Johanna Waterous will retire as a director with effect from company's agm on May 5, 2017 .Isabel Hudson will succeed Johanna Waterous as senior independent director from May 5, 2017.  Full Article

Insurer RSA 2016 operating profit rises 25 pct to 655 mln stg
Thursday, 23 Feb 2017 01:40am EST 

Rsa Insurance Group Plc : Fy operating profit rose 25 percent to 655 million stg . Final dividend 11 penceper share . Total dividend 16 penceper share . Underlying eps 39.5p, up 42%. . Operating profit £655m, up 25% . Record underwriting profit and combined ratio (£380m, up 73%, 94.2% versus 96.9%) . Statutory net profit £20m, impacted by non-capital charges for legacy disposal . Investment income £369m (2015: £403m), fell 8% reflecting impact of disposals and low bond yields, partly offset by fx translation benefits . Non-Capital charge of £204m for disposal of legacy liabilities . Tangible equity 1 £2.9bn (31 december 2015: £2.8bn) . Solvency ii coverage ratio of 158% after final dividend (31 december 2015: 143%), at upper end of 130-160% target range . Underlying return on opening tangible equity 1 of 14.2% (2015: 9.7%), at upper end of 12-15% target range . Cost reduction programme is ahead of original targets with c.£290m of gross annualised savings achieved by end of 2016 . Today we are upgrading cost savings target for a third time to >£400m gross annualised savings by 2018 . Increasing our medium term rote 1 target range to 13-17% (from 12-15% previously . Rsa is relatively insulated from brexit impacts with c.70% non-sterling profits and separate, locally regulated, european subsidiaries.  Full Article

BRIEF-RSA Insurance says UK unit hurt by catastrophe losses in Q3

* RSA INSURANCE - "TRADING RESULTS FOR Q3 TO DATE HAVE BEEN POSITIVE, CONSISTENT WITH PRIOR TRENDS, ACROSS COMPANY WITH EXCEPTION OF UK BUSINESS SEGMENT"