Corporate News
R&SA Group announced results for First Quarter 2006
Royal & SunAlliance announced Group first quarter results for 2006 on 11 May 2006. They show a good start to the year from the Core Group and continued progress in the US. Key highlights are:
Strong Start to the Year
- Core Group net written premiums of £1.4bn (Q1 2005: £1.4bn)
- Core Group combined operating ratio (COR) of 91.6% (Q1 2005: 91.8%)
- Operating result of £207m - up £47m on Q1 2005 (Q1 2005: £160m)
- Shareholders' funds increased by 9% to £3.0bn
- Group pension fund deficit reduced by 66% in the quarter to £127m
Delivery Against Strategic Objectives
- Strong performance from all core businesses
- Operational improvement programme has delivered £250m of annualised expense savings
- US derisking continues - insurance result of £4m and filed to move to single regulatory structure
- Successful launch of Yankee Bond exchange
Full report can be downloaded here:
http://www.royalsunalliance.com/royalsun/uploads/press/Q1PressReleaseFinalheaded.pdf