25 February 2011

RSA reports financial results for 2010

RSA reports financial results for 2010 : RSA has reported its financial results for 2010, during which net written premiums rose by 11% from £6.7bn to £7.5bn. Emerging markets managed to exceed the net written premium target of £1bn, and net written premiums in India recorded strong growth, rising by 35% to £116m.

RSA also predicted strong growth during 2011, with international net written premiums expected to exceed 10% growth in the present year.

However, pre-tax profits fell from £554m in 2009 to £474m in 2010.

Profits after tax also declined, from £419m in the previous year to £355m.

In 2009, the firm also recorded a fall in profits whilst net written premiums rose.

Group Chief Executive Officer Andy Haste described 2010 as an extremely difficult year, but welcomed the robust underwriting performance RSA has achieved.

Haste went on to say that the firm entered 2011 confidently, despite ongoing difficult conditions and forecast strong growth, especially overseas.

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