A.M. Best Comments on Royal & Sun Alliance Insurance Group plc's 2004 Year-End Results.OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Royal & Sun Alliance Insurance Group plc (R&SA) (United Kingdom) are unaffected by 2004 reported earnings as they were in line with A.M. Best's expectations. R&SA reported a break-even pre-tax result for 2004 (GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 146 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 260 million) pre-tax loss for 2003), in line with A.M. Best's expectations. An improvement in the reported consolidated combined ratio for the year to 103.4% (108.0% for 2003) was achieved as a consequence of focused underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and expense savings, in spite of in opposition to all efforts of; in defiance or contempt of; notwithstanding. See also: Spite strong reserve strengthening on U.S. prior years. A.M. Best continues to monitor R&SA's reserves development during 2005. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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