Insurer worth £1.12bn less than a month ago following two profit warnings
RSA shares have dropped below £1 for the first time since it issued two profit warnings last month.
The share price dipped to 98.65p today – the lowest they have been in the last year.
RSA issued two profit warnings in a week last month. Its share price fell from 129p to 121p on 5 November after it warned its full year profit would take a hit from weather losses in Europe and Canada.
Its share price slumped further on 11 November to close at 108p after it cut its operating profit forecast by £70m after uncovering accounting irregularities in its Irish arm.
The declines have wiped £1.12bn off the value of RSA since 4 November. At today’s low, total shares were worth £3.63bn.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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