Canadian results buoy RSA group results in 2010 Q1

RSA’s group results in 2010 Q1 have been buoyed by RSA Canada’s results, according to an RSA ‘Interim Management Statement’ posted on its Web site.
Also, RSA stated its losses due to the Chilean earthquake were estimated to cost about £30 million (Cdn$46.5 million), net of reinsurance.
RSA Group reported strong premium growth in Canada in personal lines.
“In Canada, premiums of £231 million [Cdn$357.7 million] were up by 17% (6% at constant exchange) driven by rate increases, strong retention and favourable exchange,” the company reported.
“In personal lines, premiums were up by 17% (6% at constant exchange) with Johnson performing strongly, delivering growth of 24% (12% at constant exchange).
“Commercial lines were up by 16% (5% at constant exchange) with strong performances in mid-market, up by 11%, and risk solutions, up by 10%.”
RSA is the largest insurer in Chile, and said its damage estimates arising from the earthquake presupposed that “the situation is still evolving.”