The 2013 full year preliminary results for RSA Insurance Group plc was announced 27 February 2014.


"3 FOR 8 RIGHTS ISSUE AT 56 PENCE PER NEW ORDINARY SHARE
Further to the announcement on 27 February of its preliminary results for the year ended 31 December 2013, RSA Insurance Group plc ("RSA" or the “Company”) today announces the launch of a rights issue to raise £773 million in proceeds (£748 million net of expenses) (the “Rights Issue”). The Rights Issue is a fully underwritten 3 for 8 rights issue of 1,380,976,863 ordinary shares of 27.5 pence each in the capital of the Company at a price of 56 pence per New Ordinary Share.
The Issue Price of 56 pence per New Ordinary Share represents a discount of approximately 40% to the closing price of 93.4 pence on 24 March 2014 (being the last business day prior to the release of this announcement) and a 32.7% discount to the theoretical ex-rights price based on the closing price on 24 March 2014."

(thanks to skinny for this article)


Bottom chart 'fast stochastic'

Brandes tops up to 7.9%

At this moment in time we are over 120p, great stuff.

Back in again today. Cleared recent congestion, now its onwards and upwards to 130.

Solid 120 now you must be happy goal,,sods law opto,we should of stayed a bit longer ..

Morning Dave, Yup!

As they say "let the trend be your friend" & its been mine sense Aug 04 & theirs a lot more to come IMO.

Well done Goal, my costliest mistake this year selling RSA too early!

" alt="" />Hello opto, i think RSA could get to 2 by the end of 06, any views.

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One consideration that took me out of RSA so soon was the asbestos issue, get this sorted satisfactory and anything is possible goal.

Trying to get a 5 year chart to back up my opinion but cant get it to work.

Are you trying to paste the chart goal?
If so I'll have a go:

There is a problem goal, anyway the chart couldn't look better :-)

This matter of asbestos has been going on for years now, i think people see past it & look at progress that RSA has made, i think the rise in the price says it all.

RSA profit sharply higher
MoneyAM
Insurer Royal & Sun Alliance Insurance Group this morning reported sharply higher annual profit.

Numbers were helped by cost savings and further progress in reducing losses in US business.

RSA said its 2005 operating result, pretax profit from underwriting and investment, came in at 698m, up from 258m the previous year, and ahead of the consensus analyst forecast of 639m.

The improvement was driven in part by an efficiency programme which has so far delivered annual cost savings of 240m. The company said it had also benefited from a sharp reduction in the insurance loss at its US business, which fell to 29m from 372m in 2004.

RSA's US operations were closed to new business in 2003 after being hit by spiralling asbestos-related claims. The company's US division is now focused on settling claims filed by existing policyholders.

'It has been a very good year for the Group. I am confident that with our focus on operational excellence, execution and the strength of our operations we will continue to deliver sustainable profitable performance,' said CEO, Andy Haste.

During 2005, RSA had premium income of 5.4bn, up 6% on the previous year. The overall combined operating ratio, claims and expenses as a proportion of premium income, a key measure of underwriting profitability, stood at 94.1%, compared with 96.1% in 2004.

That was in line with earlier guidance that the COR would be below 96%. Haste said that COR is set to improve again to about 95% this year.

The group is paying a final dividend of 3.05p per share, taking the total payout for the year to 4.74p, up from 4.61p in 2004.

Breaking out again , 200p target.

Good move today Dil, can't see where it's coming from but there must be something behind the scenes happening for this sort of rise. Been out for a while (big mistake) but bought back in before the results.
p.s. I like the sound of 200p.

Been on the watch list for a while , took the plunge earlier this week. Results were good but the chart is the clincher , fell so fast when it crashed that there is no resistance between here and 200p+.