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.

Royal & Sun Alliance today said it was delivering on its strategy after unveiling details of an improved performance in 2004.

Royal & Sun Alliance unveiled a 14% fall in half-year profits today as it focused on its position as the UK’s second biggest general insurer.

Royal & Sun Alliance is to raise £850m (€1.3bn) from the sale of the UK life insurance operation it closed to new business two years ago, it emerged today.

Insurer Royal & Sun Alliance posted a 30% rise in operating profits to £100m (€148.8m) today but said more remained to be done on its restructuring programme.

ROYAL & Sun Alliance Insurance is expected to post a 17% rise in first-half operating profit this week, but the run-up to Thursday's results announcement has been dominated by rights issue talk.

Embattled insurance giant Royal & Sun Alliance today announced it had freed up £540m (€750m) from the flotation of Promina, its Australian and New Zealand business.

London shares had a volatile session today, but managed to close ahead as retail stocks made gains.

The prospect of a downbeat start on Wall Street subdued trading across the London market today.