July 25, 2014

RSA shares fall on severe weather impact

Shares in RSA Insurance closed Tuesday down by 6.27pc as the insurer revealed that the recent severe weather had a worse than predicted impact on its costs.

It had previously predicted that severe weather would cost it between £45m and £65m, but further floods in Canada have added to the company’s problems as it revealed that weather losses for the year would be ‘materially above’ its assumptions.

 

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