LONDON (dpa-AFX) - RSA Insurance Group Plc. (RSA.L) reported that its first-quarter group net written premiums was 1.52 billion pounds, down 1% excluding exits or down 2% including exits.
In Scandinavia premiums of 610 million pounds were down 3% reflecting portfolio actions in Danish Commercial Lines, partly offset by Personal Lines growth.
The Group business operating profit for the first-quarter was up by double digit percentages, both including and excluding exit portfolios, with an improved combined ratio and slightly lower investment income.
Group said it is performing resiliently in the second-quarter though still too early to fully quantify the COVID-19 impacts.
RSA also expects a COVID-19 effect on written premium income for 2020, as some customers reduce their coverage reflecting changed needs.
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