LONDON (dpa-AFX) - RSA Insurance Group Plc.(RSANY.PK, RSA.L, RSA) reported that its profit before tax for fiscal year 2019 was 492 million pounds, up 3% from last year, despite impact of exits and other charges.
Profit attributable to equity holders of the parent company for the year grew to 359 million pounds or 32.5 pence per share from 349 million pounds or 31.6 pence per share in the prior year.
Net written premiums of 6.417 billion pounds were down 1% in the period at constant FX. Underlying premiums were down 2% when adjusted for reinsurance changes but broadly flat, excluding the exit portfolios.
RSA targets further progress in 2020. It expects to sustain a consistent strategy and operational focus and to work towards our unchanged financial targets.
The company expects net written premiums to be similar in 2020 vs 2019 at constant FX, and Net Earned Premiums slightly lower reflecting residual earn through of 2019 actions.
The company targets improved underwriting profit overall and from each region.
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