5th May 2016 11:23
LONDON (Alliance News) - RSA Insurance Group PLC on Thursday said Chief Executive Officer Stephen Hester bought GBP479,850 in shares as the FTSE 100 insurer reported strong trading for the first quarter.
Hester bought 100,000 shares at 479.85 pence per share on Thursday. His subsequent total shareholding was undisclosed.
RSA said Thursday it saw good underwriting results in the first quarter driving up operating profit, as it benefited from benign weather conditions and as underlying results continued to indicate an improving picture.
The group said insurance market conditions in the first quarter, to the end of March, were broadly unchanged against the same period in 2015. Slow growth in the market and strong competition has driven sharp price-volume trade-offs, the group said, in line with its expectations.
Group net written premiums in the quarter were flat year-on-year, reflecting the impact of the disposal of non-core operations RSA has undertaken.
The stock was up 2.4% at 480.90p Thursday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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