RSA Canada’s half-year results show growth in personal and commercial lines

RSA Canada reported strong top and bottom line performance across personal and commercial lines in the first half of 2012, producing a combined underwriting result of $96 million.

Growth generated by both Johnson and personal intermediated businesses contributed to personal lines delivering net written premiums of $771 million, up 6% against prior year. The underwriting result of $60 million and COR of 92.9% was driven by strong portfolio management and a benign winter, notes a statement from RSA, one of Canada’s leading property and casualty insurers.

Large and specialty lines, coupled with continued strong retention, led net written premiums in commercial lines to grow 10% to $409 million. Bottom line performances from all lines contributed to the underwriting result of $36 million and COR of 88.5%.

“Our commercial growth reaffirms the additional capability that last year’s GCAN acquisition brings, and the anticipated close of our L’Union Canadienne [from Co-operators General Insurance Company] acquisition this fall positions RSA as the insurer with the broadest national personal and commercial proposition, offering end-to-end solutions from coast to coast,” says Rowan Saunders, president and CEO of RSA Canada.

The acquisitions of GCAN and L’Union Canadienne, the latter subject to regulatory approvals and other standard closing adjustments and conditions, solidifies RSA’s position as the third largest general insurer in Canada.