Reinsurance News
RSA Group
Andy Haste appointed new Group Chairman of Canopius following record-breaking year
23rd May 2024
Specialty re/insurer Canopius has appointed Andy Haste as its new Group Chairman, effective July 1, 2024, bringing extensive executive and non-executive experience to the role. He will chair the Group Board as Canopius aims to achieve its future goals following its record-breaking results in 2023. Haste has had a notable ... Read the full article
RSA adds Linda Deans to Wholesale Property team
23rd November 2023
Global insurer RSA Insurance has appointed Linda Deans as a Senior Specialist Underwriter for US & International Property in its UK Specialty Lines business. Deans will assume the role in January and report to Jonathan Sigwart, Underwriting Leader of Wholesale International Property, UK Specialty Lines, at RSA Insurance. Sigwart, commented on the appointment, ... Read the full article
RSA Insurance posts smaller profit of £55 million for H1’23
4th August 2023
RSA Insurance Group has announced a profit before tax of £55 million for the six month period ended 30 June 2023, down from £224 million a year earlier. The profit before tax of £55 million consists of £82 million underwriting profit, investment income of £79 million, £7 million central costs and ... Read the full article
RSA reports £107mn profit in H1 results, bouncing back from last year’s loss
4th August 2022
UK insurer, RSA Insurance Group (RSA), reported a profit of £107mn in its half year results, recovering from a comparable loss of £249mn reported in H1 2021. This bounce back consisted of £31mn in underwriting profit, compared to a £143mn loss reported in the first half of 2021, as well as ... Read the full article
RSA names Ken Norgrove as CEO, UK & Intl.
8th December 2021
RSA has appointed Ken Norgrove as Chief Executive Officer (CEO), UK & International, succeeding Scott Egan who will be leaving the business at the end of 2021. Norgrove was most recently CEO of RSA Scandinavia from 2019 until completion of the deal in June 2021. Prior to that Ken was CEO of ... Read the full article
Tryg and Intact complete RSA acquisition
2nd June 2021
Intact Financial Corporation and Scandinavian insurer Tryg have completed the acquisition of RSA Insurance Group. Tryg and Intact will now be able to initiate the separation of the RSA business, providing Tryg with sole legal ownership of Trygg-Hansa in Sweden and Codan in Norway whilst Intact continues to co-own Codan's Danish ... Read the full article
Intact wraps up $3.2 billion capital raise ahead of RSA acquisition
26th November 2020
Canadian property and casualty insurer Intact has taken a step closer to securing its joint-acquisition of RSA with the successful completion of a previously-announced $3.2 billion capital raise. The $3.2 billion was raised via a private placement of 23.8 million subscription receipts to Caisse de dépôt et placement du Québec, ... Read the full article
RSA posts £240m underwriting profit for H1
30th July 2020
Multinational insurance group RSA has reported a £240 million underwriting profit for the first half of 2020. Group total underwriting profit was £207 million while its combined ratio stood at 92.2%. The company also posted an investment income of £134 million, down 13% after £6 million in COVID-19 impacts. Stephen Hester, RSA Group ... Read the full article
RSA announces record current year underwriting profit
27th February 2020
RSA Insurance Group has announced a current year underwriting profit of £314 million for 2019, representing growth of £229 million when compared with the prior-year while the total group underwriting result increased by almost 39% to £346 million. Excluding exit portfolios, RSA's underwriting profit reached £405 million in 2019, while the ... Read the full article
RSA Group appoints Kevin Thompson as Ireland CEO
16th September 2019
Multinational insurance group RSA has appointed Kevin Thompson to lead its operations in Ireland as Chief Executive Officer. He replaces Ken Norgrove, who is set to become CEO of RSA Group’s Scandinavian business Codan/Trygg-Hansa. Thompson joins the role having spent seven years overseeing Insurance Ireland as CEO. Prior to that he held roles ... Read the full article
Underwriting improvements help RSA to maintain steady profits
1st August 2019
UK commercial insurer RSA Group has reported an increase in underwriting profit during the first half of 2019, which helped to keep the company’s overall underlying profit steady at £292 million. Underwriting profit was recorded at £181 million in H1 2019, compared with £171 million for the same period last year. ... Read the full article
AXA’s Martin Rueegg joins RSA as CEO of the Middle East and UAE
22nd July 2019
RSA has announced that Martin Rueegg has joined the firm from AXA as the new Chief Executive Officer (CEO) of the Middle East and UAE. Effective September, 2019 Rueegg succeeds Lloyd East, who has moved the RSA's Canadian operation, Johnson, as Vice President of Strategic Operations and Chief Operating Officer (COO). East ... Read the full article
RSA confident of improvements in 2019 as underwriting action continues
4th March 2019
RSA Group saw its underlying results decline in 2018 when compared with the previous year, but the firm remains confident it can bounce back in 2019 as it embarks on further, extensive underwriting action. Despite reporting an underlying dip in results, RSA remained profitable in 2018, posting a pre-tax profit of ... Read the full article
RSA appoints Neil Strickland as Customer Experience Director
19th December 2018
Following the re-focus of RSA’s Global Risk Solutions business, RSA Group has announced the appointment of Neil Strickland as Director of its new Commercial Customer Experience function. Strickland has over three decades’ experience in the industry and will take up the role of Customer Experience Director with immediate effect. Before joining RSA, ... Read the full article
RSA names Mark Marshall as head of Channel Islands business
11th December 2018
RSA Group has appointed Mark Marshall as Managing Director of its subsidiary, Insurance Corporation of the Channel Islands (ICCI). Marshall has spent the previous seven years at RSA Group, most recently as Programme Manager responsible for leading RSA’s strategic response to Brexit. Prior to this, he was Finance Director for RSA’s European ... Read the full article
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