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Prices & Quotes - UK Markets - RSA Insurance Group (RSA)

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Share Price:
Down 429.00p
Change Today:
-0.90p
Market Cap:
4,438.63m
Sector:
Insurance (non-life)

RSA sees smaller-than-expected hit from Covid-19

By Josh White

Date: Thursday 07 May 2020

LONDON (ShareCast) - (Sharecast News) - RSA Insurance Group said it would face net claims of ?25m from the coronavirus pandemic, well below analyst estimates as it reported first quarter results.
RSA said the payouts covered travel-related and wedding insurance claims and added the majority of business interruption claims were not expected to be eligible under their coverage terms for Covid-19. Analysts had expected a net impact of ?60m from Covid-19 during 2020.

That included travel claims, with estimated costs of ?16m gross of reinsurance, claims for wedding cancellation with an estimated reserve of ?7m, and claims under certain business interruption and related coverages with an estimated claims reserve of ?17m.

There would likely be an increase in bad debt from customers, the company said, adding it was actively working with those in most need on payment spreading plans.

Chief executive Stephen Hester said RSA was "resilient" and "very conscious of our shareholder responsibilities, especially with regards to restarting dividend payments when it is prudent to do so"".

For April, claims frequency was down on the prior year in the range of 20% to 55% across the company's three regions, mostly reflecting Covid-19 impacts on activity levels.

Group net written premiums totalled ?1.52bn for the first quarter, down 1% year-on-year excluding exits and in line with guidance.

The group's estimated solvency ratio fell to 151% from 168% at the end of December, reflecting Covid-19 driven market impacts and planned pension contributions.

Group weather costs were 3.7% of net earned premiums, up from 3.2% year-on-year and slightly better than its expectations for the quarter, as weather costs were better in Canada and worse for the UK and international division, due to February flooding in the UK.

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RSA Market Data

Currency UK Pounds
Price 429.00p
Change Today -0.90p
52 Week High 582.80p
52 Week Low 326.90p
Volume 1,285,800
Shares Issued 1,034.64m
Market Cap 4,438.63m

Performance Indicators

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What The Brokers Say

Strong Buy 15
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 18
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

RSA Dividends

  Latest Previous
  Interim Interim
Ex-Div 12-Nov-20 05-Sep-19
Paid 04-Dec-20 11-Oct-19
Amount 8.00p 7.50p

Trades for 21-Oct-2020

Time Volume / Share Price
16:35 630,159 @ 429.00p
16:29 1 @ 426.90p
16:29 79 @ 427.10p
16:29 1,973 @ 427.00p
16:29 1,769 @ 426.50p

RSA Key Personnel

Chair Martin Scicluna
CEO Scott Egan