Profits fall at RSA Insurance as it prepares to be sold

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Profits fall at RSA Insurance as it prepares to be broken up and sold

Profits have fallen at RSA Insurance as it prepares to be broken up and sold. 

The UK group said profits in 2020 fell 2 per cent to £483m, blaming costs related to a restructure and Covid-19. 

Boss Stephen Hester said the results were ‘excellent’ but shares remained virtually unmoved yesterday at 675.4p.

‘Excellent’: The UK group said profits in 2020 fell 2 per cent to £483m, blaming costs related to a restructure and Covid-19

Last month investors voted in favour of the £7.2billion bid from Intact, a Canadian insurance firm, and Denmark’s Tryg. 

The companies have agreed to split RSA’s business between them, separating the Scandinavian part of the firm from the UK and Canada wing.



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