RSA Insurance Group PLC (RSA.L)
21 Apr 2017
(The following statement was released by the rating agency) LONDON, April 07 (Fitch) Fitch Ratings has assigned RSA Insurance Group Plc's SEK2,500 million and DKK650 million perpetual Restricted Tier 1 (RT1) contingent convertible notes a 'BB' rating. The notes are rated four notches below RSA Insurance Group Plc's Issuer Default Rating (IDR) of 'BBB+', comprising two notches for a 'poor' baseline recovery assumption and two notches for 'moderate' non-performance risk. KEY RATING DRIVERS The not
* Announces tender offers to purchase certain outstanding notes
* May issue perpetual restricted tier 1 contingent convertible notes in regulation s registered format in 1 or more Scandinavian currencies Source text for Eikon: Further company coverage:
LONDON Forecast-beating 2016 results show British insurer RSA can thrive on its own, two years after rival Zurich Insurance walked away from a bid, it said on Thursday.
* CEO says no bids on the table, company doesn't need one (Recasts with additional CEO comments, updates share price)
LONDON, Feb 23 European shares steadied near a 14-month high on Thursday, with a rally in stocks of companies like Barclays and RSA following their positive updates offsetting some weaker firms including Technicolor and Veolia.
* Chief executive stephen hester says ~customers have benefited "significantly" from rsa not having been sold to zurich insurance
Feb 23 Britain's FTSE 100 index is seen opening 4 points higher, or up 0.05 percent on Thursday, according to Financial spreadbetters, with futures up 0.06 percent ahead of the cash market open.
LONDON, Feb 23 Insurer RSA posted a 25 percent rise in 2016 operating profit to an above-forecast 655 million pounds ($814.49 million) due to strong performance in most of its core businesses, and raised its target for return on equity.
* Record underwriting profit and combined ratio (£380m, up 73%, 94.2% versus 96.9%)