Saturday, August 28, 2010

RSA plays down speak of move for Aviva arm

Insurer RSA pronounced it has copiousness of headroom to enter upon on acquisitions, but played down speak it could be eyeing Aviva"s ubiquitous word arm. Chief senior manager Andy Haste pronounced "we are gossip weary" but insisted RSA was "not antithetic to flourishing in the UK" if the right event comes along. "If the understanding is right, there is income to do it," he said. "At the moment, we see some-more opportunities in general and rising markets."

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Waiting game: RSA reliable it has the equates to to enhance in future

Certainly abroad ventures are proof some-more essential for RSA, though the executive European businesses have been strike by the mercantile downturn.

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The organisation is the second largest domicile and fourth largest engine insurer in the UK, most appropriate well known for the More Th>n brand. But it has been essay reduce volumes of commercial operation as the marketplace is so competitive. Even so, it has lifted rates on engine word premiums by around 7 per cent and completed "double digit" increases in premiums for new customers. Group pre-tax distinction sank by twenty-seven per cent to 554m last year, notwithstanding a 4 per cent climb in premiums to 6.7bn. Haste blamed weaker investment opening since of reduce down payment yields, but analysts were happy formula were on target. Shares fell 2.1p to 129.7p. Dividends climb 7 per cent to 8.25p.

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