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'

How long to sort out the asbestos mess - and what is the impact of the weak dollar on earnings?

Traded firmly today in a very 'steady' market. Let's see how they go on the next good day. We have a sideways channel in place, look forward to a break on the topside then it could move.

Today could be the 'breakout' day but this level needs to hold and then we could be away!!

6,000,000 sell @ 89p....price held.

Opto, whats your feelings for the 10th of march,do you think the divi will be held,and what sort of pre tax profit would you be happy to see,dave.

No fireworks expected DD but reckon the divi will be held or slightly increased. Hopeful of a move when Moody's upgrade their credit rating, perhaps next week?

Nice one opto .

Any reason for RSA full this week?

Fall this week Goal, Not on their own looking at the rest of the market. The meeting yesterday and the change in acounting practise probably would not have helped either. Results due 10th March.

Anyone think 85p a good price to sell NOW?
Div possible around the 2.9p mark anyone?
Results 10 March

Sal,i am looking to buy at around 70ish who know`s if i will be lucky or not!!

Opto has the full picture.

Dave, not sure about having the 'full' picture but I certainly I am a lot more optimistic in my view on RSA than to be looking for 70p, unless some devastating info comes out before the results I see 83/84p being a good support level......but then again I have been wrong before !!!

John ,i am sure you are right mid 80s its stable & safe.

Opto - think correction in FTSE is in the offing. Looking to retreat RSA to 80p at which point they should be a buy.

DD - 70p is very anti-opto, I wouldn't hold my breath if I were you. I would be very surprised if 75p were hit again anytime soon unless major event materialises. DYOR etc.

Nam.

LONDON (AFX) - Royal & Sun Alliance Insurance Group PLC (RSA) is expected to turn in sharply higher profits for 2004 on Thursday as it emerges from a radical restructuring that weighed on its performance the previous year.

Analysts' forecasts for group operating profit over the year to Dec 31 2004 fall within a range of 425-466 mln stg. In 2003, profits fell 38 pct on the year to 140 mln stg as the company sold a raft of businesses and launched a controversial rights issue in an effort to bolster its balance sheet.

Chief executive Andy Haste is likely to be quizzed over the extent of any future reserves strengthening in the US. RSA stopped writing new business in the US as part of its 2003 restructuring, but it has set aside hundreds of millions of dollars against possible future claims from existing policyholders.

In the fourth quarter of 2004, the company strengthened US reserves by 160 mln stg, of which about 95 mln stg is earmarked for worker compensation claims.

Investors will also be looking out for an update on how plans to cut annual costs by 270 mln stg by 2006 are progressing. The efficiency drive was announced at the time of the company's controversial 2003 rights issue, which raised some 960 mln stg to strengthen the balance sheet and meet future claims.

The performance of RSA's core UK and Scandinavian general insurance business will also come under scrutiny. The company has said it aims to achieve a combined ratio - a key performance indicator which expresses claims and expenses as a percentage of premiums earned - of 100 pct over the insurance market cycle.

mn/ec

What do you think opto? goal

Best bit of news that's been out on RSA for some while goal, nicely timed before the results. I'm a little surprised that is has not had more effect on todays market.

Next week could be more th>n interesting, goal.

I'm hearing that results will be nicely above analysts expectations and don't forget they are also lapping a difficult year due to the restructuring one offs last year which should also help the results look even better. Lloyds posted ahead today and with RSA a true laggard in this sector, I think that we could see them get the kick start we've been waiting for around the results next Thursday. I have a 4-6 week target of 92-95 pence on these. I think a round 1 is easily achievable later in the year.

Joe h, I think that if the results are up to expectations it won't take 4/6 weeks to reach 92/95p. Sorry about the open post folks....trigger happy :-)