September 28, 2018 / 6:37 AM / 8 months ago

Insurer RSA says poor UK underwriting results hit Q3

Sept 28 (Reuters) - RSA Insurance Group Plc reported on Friday a small rise in net written premiums for the year so far, but said higher weather losses in Britain led to a “disappointing” third quarter.

The FTSE 100 firm said its UK and London market business made an underwriting loss of about 70 million pounds ($92 million) in the quarter due to bad weather, large losses and attritional claims.

“Our UK and ‘London market’ business reported an underwriting loss which is disappointing. Actions to improve in the UK are well underway...” Chief Executive Officer Stephen Hester said in a statement.

$1 = 0.7645 pounds Reporting by Muvija M and Noor Zainab Hussian in Bengaluru; Editing by Mark Potter

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