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.
Hellman & Friedman’s Hub International Seeks $3 Billion in IPO 
India’s Largest Nuclear Power Plant Hit by Data Breach 
Damaged Manhattan Tower Owner to Reconstruct 15 Floors After Evacuation 
One Weather Firm Warns New England Could See Big Hurricane This Season 
