RSA Insurance is on the rise after an upbeat trading statement from chief executive Stephen Hester.
The insurer said it was on track to at least meet analysts forecast for its full year profits, as it stepped up cost cutting in the wake of a failed £5.6bn bid from Zurich Insurance last year. The business has been concentrating on its core businesses in the UK and Ireland, Canada and Scandanavia, and has sold operations in Brazil, Russia and Argentina among others.
Its first quarter results showed an 8% increase in premiums excluding discontinued businesses and a strong increase in operating profits, and Hester said:
A streamlined and focused business model is already proving its worth…Higher profits are underpinned by bett…
Read the full article at: https://www.theguardian.com/business/marketforceslive/2016/may/05/rsa-on-the-rise-as-restructuring-boosts-profits