February 22, 2018 / 7:07 AM / 8 months ago

BRIEF-Insurer RSA 2017 operating profit rises 1 pct

Feb 22 (Reuters) - Rsa Insurance Group Plc:

* TOTAL DIVIDEND 19.6 PENCEPER SHARE

* ‍PREMIUM INCOME UP 4% TO £6.7 BILLION, COMBINED RATIO 94%​

* ‍UNDERLYING EPS 43.5P, UP 10%; STATUTORY PROFIT AFTER TAX £322M (2016: £20M)​

* ‍RETURN ON TANGIBLE EQUITY 1 15.5% (2016: 14.2%) VERSUS 13-17% TARGET RANGE​

* ‍FINAL DIVIDEND 13.0P PER SHARE (19.6P TOTAL FOR 2017, UP 23%)​

* ‍GROUP UNDERWRITING PROFIT OF £394M UP 4%​

* ‍UNDERLYING PRE-TAX PROFITS UP 12% TO £620M (2016: £556M)​

* ‍GROUP WEATHER COSTS IN LINE WITH LAST YEAR; LARGE LOSSES ELEVATED AT 10.8% OF PREMIUMS (2016: 8.9%)​

* ‍RSA’S OVERSEAS DIVISIONS ACHIEVED EXCELLENT RESULTS IN 2017, PARTLY OFFSET BY POOR UNDERWRITING FIGURES IN OUR UK/ LONDON MARKET BUSINESS​

* ‍WE TARGET FURTHER IMPROVEMENT IN 2018 AND THEREAFTER​ Further company coverage:

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