R&SA reaps benefits of overhaul

Insurance group Royal & Sun Alliance today said its profits had trebled in the first three months of 2005 as benefits flowed from its restructuring programme.

The UK’s second largest insurer, which operates the More Than brand, said pre-tax profits totalled £122m (€178.5m) in the first quarter, compared with £44m (€64.4m) a year earlier. Share rose 6% following the results.