R&S Canada 1-Q’s underwriting jumps on personal lines (May 15, 2005)

Royal & SunAlliance Canada produced an underwriting profit of $14 million for the first quarter of this year, signaling a significant turnaround in overall profitability from 2004’s first quarter underwriting gain of $1 million. The insurer saw its underwriting on personal lines recover from a $1 million loss a year ago to its current $10 million. Commercial business also performed well for the company, delivering an underwriting profit of $4 million for the latest quarter compared with the $2 million made over the same period in 2004. Overall, R&S Canada reduced its combined ratio by 3.5 percentage points to 98.5% from the 102% ratio reported at the end of last year’s first quarter.