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'

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Hmmm - new 12 month low today 99.60.

Lost interest in the Insurance/Assurance industry when the Banks went belly-up so out of touch with sector now, but is the whole sector going through a trough at the moment? and if so RSA's decline might just be because it is in an unloved sector.. just a thought.

You are probably right Stan it is an unloved sector, maybe the unknown european liabilities also have a bearing on the sector performance.
2517

From the IMS in November.

Quarter 3 2011: Continued strong top line momentum and financial position

Net written premiums of 6.1bn up by 11% with all regions delivering good growth
Rating action and recent deals and acquisitions continue to drive the top line forward
IGD surplus of 1.3bn; coverage remains strong at 2.0 times
Net asset value per share including IAS 19 of 101p compared with 106p at 30 June 20111
Continue to expect to deliver a combined operating ratio (COR) of better than 95% in 2011

Overview

Premium momentum remains strong, with net written premiums for the nine months to 30 September 2011 of 6,132m, an increase of 11% (9% at constant exchange) over the same period in 2010.

International net written premiums of 2,992m up 13% (9% at constant exchange)2
UK net written premiums of 2,318m up 7%2
Emerging Markets net written premiums of 800m up 17% (17% at constant exchange)2
Indian associate net written premiums of 106m up 26% (29% at constant exchange)

Of the group's total portfolio 89% is invested in high quality bonds and cash, just 1% is in eurozone peripheral eurozone sovereign debt.

I hope those bonds remain 'high quality' as I bought some @ <100p before the close.
2517

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mnamreh-----sorry for the delay, the figures related to an article by Phil Oakley in the Moneyweek mag. 'The value of RSA's low risk investment portfolio remained steady at 14.4bn.' The 89% and 1% in my earlier post relate to the 14.4bn, in addition he adds that RSA had 1.3bn in surplus capital---twice its regulatory requirement. Good Luck.
2517

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seating here in the sun .just added two lots one of 9707 and one other
div 10 percent

these will be over 140p by feb

I'm not sure where you get 140 (by March) or 10% yield from - the current yield is 8.52%.

Next announcement around 23rd February.

the div to grow for the next few years it will be 10%

off out now going down to the centre then off on a night trip

skin also look at the charts they always go up in jan funds buy for the div .
have a good new year

I think T has been on the splosh, however he may be right with post 445. Good luck all.
2517

on a tip i have just bought 9773 and will add more tomorrow when funds are free .
cheers T

just added 9703 div will be nice and 140p

profits up 15 % div to rise 10%div this year where else can you get that

On 9 Jan:
TW.: Northland Capital Partners: Reiteration: Hold 40p TP unchanged.