RSA sees 5% rise in Irish premiums

Royal & Sun Alliance (RSA Insurance) saw a 5% increase to £348m (€398m) in premiums underwritten in Ireland last year compared with 2011, according to its latest financial accounts.

Underwriting profits were up 14%, “driven by continued impressive performance from 123.ie, our direct insurer acquired in 2010, leading to a combined ratio of 94.2%”, it said, adding that the company gave guidance of an increase in both profits and premiums in ireland for this year.

The London-headquartered company with operations in the UK, Canada, Europe and emerging markets, performed well across most divisions, it said.