R&SA runs out of steam
The share price of insurance heavyweight Royal & SunAlliance ran out of steam this week and fell victim to profit-taking.
After the heavy run up that the insurer has had since breaking the £1 level back in November, the stock dropped over 5% and was at 122.5p as Insurance Times went to press.
Amlin drifted slightly lower despite the insurer announcing that it expects pre-tax profit for the 2005 underwriting year will be ahead of market expectations with trading in the current financial year off to a good start.
The price was 0.5% down on the day and is currently trading at 248.5p.
Shares in Wellington underwriting made an attempt to claw back lost ground last week after a steep fall in late November. The shares climbed to £1 but have since retreated back to 94.75p as Insurance Times went to press.
Brit followed the downward trend and also lost ground over the week. The shares fell back to 90.75p after hitting 95p last week.
Alea also fell further this week. The shares in Alea have been in a steady downward trend since the company listed in late 2003 and have lost over 50% of their value in the past year alone.
The stock, which was at 213p early in 2005, is currently trading at 100.25p.