RSA Canada drives growth for insurer’s international operations

The Canadian operations of RSA drove the insurer’s international growth, with premiums of $1.98 billion in 2010, marking a 22% increase.

The personal lines segment of RSA’s Canadian operations saw a 20% increase in premiums last year – including Johnson, which increased its premiums by 22%. Commercial lines saw a 29% increase in premiums during 2010, RSA said in its 2010 weather update and outlook for 2011.

RSA attributed the growth in Canadian commercial lines to “strong new business in mid-market and SMEs [small-to-medium enterprises].”

Overall, RSA expects its 2010 group results to show net written premium growth of 11%, a combined operating ratio between 96.5% and 97% and an operating profit ranging from $954 million to $1 billion. 

Throughout 2010, the total impact of weather across the group is expected to be roughly $278 million worse than in 2009, or approximately 2.4 points on the combined ratio. Of the $278 million in claims, $226 million occurred in November and December 2010, RSA noted.