Royal & Sun Alliance Insurance Group shares fell nearly five percent Thursday on word that the British financial service company’s first quarter profits fell 4.8 percent. Turning around the group’s underperforming British general insurance book took longer than some analysts expected, but it was on track to meet its underwriting and capital return targets next year. Also, Orion Capital, Royal & Sun’s major U.S. acquisition last year, was performing better than expected. Group operating profits for the company fell to $215.6 million despite a 20 percent increase in worldwide general insurance premiums due to two large acquisitions.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
USI Insurance Services Claims Ex-Broker Poached Clients for Own New Agency 
AIG’s Turnaround Under Zaffino Sets Stage for New Leadership 
Lawyer Who Filed Viral Suit Against JPMorgan Seeks to Exit Case 
Helicopter Crash in Georgia Kills Groom, Pilot, Hours After Huge Wedding Celebration 
