Analyst says the rebuilding of RSA is a similar story to Direct Line Group’s
RSA’s share price has climbed 4.5% since Wednesday after influential analysts at Credit Suisse praised the insurer’s emerging turnaround.
Credit Suisse said: “Property and casualty (P&C) peers like Direct Line offer a more plausible template in terms of how the RSA investment case may develop.
“Having addressed the structural weakness in the balance sheet, streamlined the strategic focus and embarked on a cost reduction programme, we expect RSA to begin to deliver a return profile more in line with what investors demand from a P&C company: moderate levels of growth, solid and consistent operating earnings, and high cash distributions to shareholders.”
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