RSA posts 2023 loss as underwriting result improves

RSA has reported a loss after tax of £89m driven in part by integration costs as the underwriting performance improved year-on-year.

Group net written premiums covering the UK, Ireland and Continental Europe rose 7.6% in 2023 to £3.35bn.

Underwriting profit also increased, from £60m to £77m, and the investment return improved from £137m to £185m.

However, £162m of integration and restructuring costs was a key driver of the annual deficit as it swung back to losses after a profitable 2022.

The breakdown of the numbers showed UK net written premiums jumped 23.6% to £2.48bn.

Underwriting in the division stayed in the red though with

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