Royal & Sun Posts Higher Quarterly Profit
NU Online News Service, May 23, 3:59 p.m. EDT?Royal & Sun Alliance Insurance Group reported a 9.4-percent boost in its first-quarter net income, to 175 million pounds (U.S. $286 million), compared to the period a year ago, thanks to its stronger underwriting results.
Royal & Sun, the United Kingdom's second-biggest property-casualty insurer, said its first-quarter combined ratio improved by more than five percentage points, to reach 99 percent, compared to the 2002 first quarter.
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