2nd Mar 2010 10:43
RSA announces impact of Chilean earthquake
RSA Insurance Group plc (RSA) is the leading general insurer in Chile through its wholly-owned subsidiary, Royal & SunAlliance Seguros Chile.
Saturday's earthquake caused widespread damage throughout Chile and, while the situation is still evolving, RSA today announces an estimated cost of around £30m, net of reinsurance, for claims arising from the event.
As reported last week, RSA currently expects to achieve a combined operating ratio of around 95% for 2010. Based on this estimated cost, RSA does not expect the earthquake to affect this guidance.
| For further information: | ||||
| Analysts | Press | |||
| Claire Cordell | Louise Shield | |||
| Tel: +44 (0) 20 7111 7212 | Tel: +44 (0) 20 7111 7047 | |||
| Suzannah Oliver | Simon Kutner | |||
| Tel: +44 (0) 20 7111 7140 | Tel: +44 (0) 20 7111 7327 | |||
Notes to editors:
About RSA
With a 300 year heritage, RSA is one of the world's leading multinational quoted insurance groups. It has the capability to write business in over 130 countries and major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and Eastern Europe. Focusing on general insurance, it has around 21,000 employees and, in 2009, its net written premiums were £6.7bn.
Important Disclaimer
This press release may contain 'forward-looking statements' with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition, performance results, strategic initiatives and objectives. Generally, words such as "may" "could", "will", "expect", "intend", "estimate", "anticipate", "aim", "outlook", "believe", "plan", "seek", "continue" or similar expressions identify forward-looking statements. These forward-looking statements are not guarantees of future performance. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond the Company's control, including amongst other things, UK domestic and global economic business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing impact and other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which the Company and its affiliates operate. As a result, the Company's actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in the Company's forward-looking statements. Forward-looking statements in this press release are current only as of the date on which such statements are made. The Company undertakes no obligation to update any forward-looking statements, save in respect of any requirement under applicable law or regulation. Nothing in this press release shall be construed as a profit forecast.
Copyright Business Wire 2010
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