StockMarketWire.com - RSA Insurance Group saw an increase in its total underwriting profit of £229m in 2019, according to its preliminary results.

The group's underlying earnings per share reached 44.5p, while return of tangible equity stood at 16% for the period.

Excluding exit portfolios, the group reported an underwriting profit of £405m.

Statutory profit before tax for the year was £492m, up 3% when compared with the year previous in spite of being impacted by exits and other charges.

The firm's dividend was up 10% at 23.1p per share, with a final dividend of 15.6p.

Stephen Hester, RSA Group chief executive, said progress was driven by improved underwriting, which has produced record current year profits and combined ratio.

He added: '2019 was an important period for RSA. Significant management renewal and a repositioning of our UK & International division are showing good promise. Our Groupwide focus on underwriting improvement with strong cost control proved effective. Yet there is plenty more we can do to improve each of our businesses for customers and shareholders. There are challenges, but we are determined to drive further progress and high performance.'




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