RSA GROWS PREMIUMS 8% IN THIRD QUARTER

RSA generated gross written premiums of more than £5.07bn during the third quarter, a year-on-year increase of 8%. In a trading update, the UK insurer said it was ahead of the same period in 2016 in terms of group profits, though not by as much as it had targeted. RSA said it had incurred £50m of losses related to US and Caribbean catastrophe events, booked in its UK insurance sector. “Claims notifications for these events are still developing, and we expect this provision to increase somewhat,” the insurer said. For the year to date, RSA said underwriting results for Scandinavia, Canada, Ireland and Middle East were ahead of 2016 performance, but the UK had dragged the performance due to hurricane impacts and other large loss experience.