RSA Insurance profits 'up on all measures'

RSA Insurance said on Thursday that total group profits were up on all measures in 2019, driven by a record showing by the group's underwriting unit.

The FTSE 100-listed firm posted a £383m profit after tax in 2019, up from the £372m reported a year earlier, while underwriting profits grew from £250m to £346m - a record for the group.

RSA brought in £223m of that underwriting result from Scandinavia, while £94m was from Canada and £85m came from its UK and International division. However, the group's central functions wing posted an underwriting loss of £56m.

The group also proposed a final dividend of 15.6p, while earnings per share came to 44.5p each.

Chief executive Stephen Hester said: "We are pleased to report strong results for RSA in 2019. Our profits are up, our dividends are up and return on tangible equity is very good.

"There are challenges, but we are determined to drive further progress and high performance."

As of 1020 GMT, RSA shares were up 2.29% at 544.20p.