RSA has shocked the City by increasing sales during Q1 2010. Bumping up motor insurance premiums by 9% clearly helped.
RSAles for the first quarter were up 7% on this time last year, boosted also by hikes of 4% on household and 6% on “personal” cover through the More Th<n brand.
“It’s a competitive market,” explained CEO Andy Haste, “with rivals such as ^VIV^ increasing their efforts, particularly in the car market.”
But “our strategy is working,” he chuckled with sinister glee (probably).
Despite losses from things like earthquakes in Chile and inclement weather closer to home, Mr Haste was reluctant to rule out the possibility of making some money in 2010, for which RSA currently projects a COR of around 95%.
2010 will be a big year for RSA, who not only celebrate the 300th anniversary of some distant putative forebear, but also totally trump QBE’s efforts to corner the rugby sponsorship market by hosting football’s prestigious World Cup tournament this summer.
Not that RSA? Oh…
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