Q1 group net written premiums up 8% to £1.9bn
RSA reported an 8% increase on group net written premiums to £1.9bn for the first quarter of 2009. International net written premiums were up 12% to £1,001m, while UK net written premiums were slightly down by 1% at £652m. RSA also said it was on track to deliver a combined operating ratio of 95% for 2009.
Commercial premiums for the UK business were 2% down last year at £389m and personal lines decreased 1% to £263m.
RSA achieved a 6% rate increase in personal motor and 5% in household. In commercial, rates were boosted by 6% on liability, 7% in property and 11% in the motor business.
RSA’s IGD (insurance group directive) surplus stands at £1.7bn, it reported the same figure for its fourth quarter results in 2008. “We remain strongly capitalised,” said Adrian Brown, UK CEO of RSA.