RSA Canada’s acquisition of GCAN features prominently on parent company’s bottom line

RSA Canada’s acquisition of GCAN last year proved to be a significant component of the premium growth RSA’s parent company in the United Kingdom reported in 2011 Q3.
The RSA Group’s international net written premiums of £2.992 billion [Cdn$4.8 billion] were up 13%, the company reported in its Q3 2011 Interim Management Statement. Overall, RSA’s net written premiums in 2011 were £6.1 billion [Cdn$9.9 billion] as of nine months ending at Sept. 30 (up by 11%).
“Canada has delivered excellent growth, with premiums of [£1.108 billion, or Cdn$1.79 billion] up by 20% (19% at constant exchange) driven by rate increases, strong retention and the benefit of the acquisition of GCAN which contributed 10 points of the overall growth (10 points at constant exchange),” the company reported.
“In commercial lines, net written premiums of £345 million [Cdn$557.6 million] increased by 51% (50% at constant exchange) driven by GCAN, which contributed 41 points of the growth (41 points at constant exchange) and strong performances in SME and Risk Solutions.”