7th Nov 2007 07:00
Royal & SunAlliance - Canadian Investor Day and Group 9 Month Premium Update Royal & Sun Alliance Insurance Group plc (R&SA) will be meeting with investorsand analysts this afternoon to give a presentation on our Canadian business. Thepresentation will be hosted by Simon Lee, CEO of International and will focus onour Canadian strategy, financial performance and growth initiatives, includingthe recent acquisition of Canadian Northern Shield. In addition, BridgetMcIntyre, UK CEO, will present an update on UK market conditions and UK netwritten premiums. In conjunction with these presentations, R&SA is today announcing Group netwritten premiums for the nine months to 30 September 2007 of £4,360m, anincrease of 8% over the same period in 2006 at constant exchange rates. In International, premiums of £1,879m were up 8% driven by the impact of bothorganic initiatives and recent bolt on acquisitions coming on stream. The UK hasagain delivered a good performance in a competitive market and premiumsincreased by 6% to £2,025m. UK Personal lines increased by 29% driven primarilyby growth in Affinity partnerships and MORE TH>N. In Commercial lines, premiumswere down 5% as a result of our commitment to maintaining underwritingdiscipline. Emerging Markets continued to deliver double digit growth, withpremiums up 17% to £441m with strong growth in the Baltics, Latin America andAsia and the Middle East. A breakdown of net written premiums and rating actions is included in the notesto editors. Andy Haste, Group CEO of Royal & Sun Alliance Insurance Group plc, commented: "Our nine month premiums clearly demonstrate both the benefits of our strong anddiversified portfolio and that we continue to exercise discipline and take theright action on rate. Across the Group we are targeting profitable growthopportunities and we remain committed to delivering sustainable profitableperformance." For further information: \* TAnalysts Press------------------------------------------------------------------Shona Cotterill Thomas Coops / Sarah Hilyer------------------------------------------------------------------Tel: +44 (0) 20 7111 7212 Tel: +44 (0) 20 7111 7047/7327------------------------------------------------------------------Wendy Hardy Simon Moyse (Finsbury)------------------------------------------------------------------Tel: +44 (0) 20 7111 7140 Tel: +44 (0) 20 7251 3801------------------------------------------------------------------\* T Notes to editors: 1. Set out below are the nine month net written premiums for each of theregions: \* T Increase at constant Increase as Net written premiums exchange reported 9m 2007 9m 2006 £m £m % % UK Personal 819 637 29 29UK Commercial 1,206 1,273 (5) (5) --------------------------------------------------Total UK 2,025 1,910 6 6 Scandinavia 1,073 1,009 7 6Canada 512 501 9 2Other Europe 294 269 10 9 --------------------------------------------------Total International 1,879 1,779 8 6 Emerging Markets 441 397 17 11 Group Re 15 1 n/a n/a -------------------------------------------------------------------------------------------Total Group 4,360 4,087 8 7-------------------------------------------------------------------------------------------\* T 2. Rate movements achieved for risks renewing in September 2007 versuscomparable risks renewing in September 2006 were as follows: \* T Personal Commercial Motor Household Motor Liability Property % % % % % UK 6 5 9 2 -Scandinavia 2 3 2 7 1Canada - 4 (5) (2) (1)\* T 3. As reported in the 2007 interim results, R&SA expects to deliver a combinedoperating ratio for the full year of around 96%. 4. A live audio webcast of the presentation including the question and answersession, will be broadcast via the website (www.royalsunalliance.com) at 3.00pmtoday and will be available via a listen only conference call by dialling UKFreephone 0800 279 2280 or International dial in: + 44 (0) 208 515 2304. Anindexed version of the audiocast will be available on the website on Thursday 8November. Copies of the slides to be presented at the analyst meeting will beavailable on the website from 2.45pm today. Important Disclaimer This press release contains forward looking statements as defined in the U.S.Private Securities Litigation Reform Act of 1995. The forward looking statementsare based on management's current expectations or beliefs as well as a number ofassumptions about future events, and are subject to factors and uncertaintiesthat could cause actual results to differ materially from those described in theforward looking statements. The agreement is subject to the execution ofdefinitive documents by the parties. The Company does not assume any obligationto update any forward looking statements, whether as a result of newinformation, future events or otherwise. Copyright Business Wire 2007Related Shares:
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