Royal &SunAlliance boosts net premium in 2006

Royal & SunAlliance says Canadian net written premiums were CD $1.03 billion (501 million) during the first nine months of 2006, an increase of 9% over the same period in 2005.

“This reflects strong growth in both commercial (lines) and Johnson Inc.,” the company reported in a press release.

The Canadian combined operating ratio of 92.4% improved by 1.6 points and the underwriting result improved by 38% (to Cdn$69 million).

Commercial lines reported exceptional growth of 22%, contributing to an underwriting profit of Cdn$15 million.

Personal lines delivered an underwriting result of Cdn$54 million during the first nine months of 2006, compared to Cdn$31 million during the same time last year

Johnson Inc. contributed a net written premium growth of 17%.

The underwriting results, the company said, reflected “the benefits of our disciplined approach to risk selection, claims actions and favourable claims experience.”

The company announced it is continuing to build its broker network, adding 12 new brokers, bringing the total to 53 brokers in 2006.

“These results reflect our commitment to growth, underwriting discipline and claims management,” said Royal & SunAlliance Canada president and CEO Rowan Saunders. “We will continue to work with our broker partners to deliver a sustainable performance.”