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RSA (RSA)     

optomistic - 05 Mar 2004 16:19

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)

Chart.aspx?Provider=EODIntra&Code=RSA&Si
Bottom chart 'fast stochastic'

daves dazzlers - 25 Feb 2005 20:54 - 93 of 761

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

namreh3 - 26 Feb 2005 13:17 - 94 of 761

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.

goal - 04 Mar 2005 16:24 - 95 of 761



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





optomistic - 04 Mar 2005 16:29 - 96 of 761

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.

goal - 04 Mar 2005 16:35 - 97 of 761

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

joehargan1 - 04 Mar 2005 17:42 - 98 of 761

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.

optomistic - 05 Mar 2005 18:56 - 99 of 761

optomistic - 05 Mar 2005 18:59 - 100 of 761

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 :-)

optomistic - 11 Mar 2005 09:59 - 101 of 761

Thought the results looked OK so disapointed with the sp. Any further downside is going to put RSA on a very attractive yeild, near enough 5% right now.
Must be some trades not yet reported as the recorded buys are way outnumbering the sells this AM.

goal - 11 Mar 2005 10:10 - 102 of 761

seriously considering buying more, looking for the the wright time.

optomistic - 11 Mar 2005 10:24 - 103 of 761

Still slipping goal, hopefully it will level soon. Loads of buys going through.

goal - 11 Mar 2005 10:40 - 104 of 761

Yes, but nothing goes in a straight line & I am very optimistic that RSA will start to recover some of its share price that it has lost over the years, it looks like they are determined to me.

optomistic - 11 Mar 2005 10:48 - 105 of 761

Do agree goal, I'm holding.

goal - 11 Mar 2005 11:00 - 106 of 761

At the end of the day, we want to make money, This is the only FT 100 company I have shares in & it is because there is more up side than down. goal.

optomistic - 11 Mar 2005 11:01 - 107 of 761

2 million buy just reported @ 83.83p.....that you topping up goal.

goal - 11 Mar 2005 11:03 - 108 of 761

Not yet.

optomistic - 11 Mar 2005 12:35 - 109 of 761

Two buy trades recorded 12.23pm 4 million @ 82.5p 12.31 pm 4 million @ 82.5p. Still showing -1.5p

optomistic - 11 Mar 2005 13:25 - 110 of 761

Taken from Company report page 24:

Asbestos Developments
Turner & Newell
Further to the High Court ruling against us and in favour of Turner & Newell (T&N) in 2003, we are pleased to
confirm that Royal & SunAlliance, in conjunction with other former employers liability insurers of T&N, have been
able to reach agreement in principle with T&Ns administrators that a sum of money has been made available
towards compensating workers exposed to asbestos by T&N during the years covered by the policies. This will
conclude the insurers involvement in any asbestos liabilities of the T&N companies.
It is the Groups policy not to comment on our reserving for individual incidents. However, we are adequately
reserved for the proposed agreement within our overall asbestos reserves, which are subject to regular review
and are within an appropriate range.

Proposed US Asbestos Legislation
An amended version of Senate Bill 2290 (Fairness in Asbestos Injury Resolution or FAIR Act) will be introduced
shortly by Senate Judiciary Committee Chair Arlen Specter. The amended bill, like the bill 2290, will include
establishing a privately financed trust fund to provide payments to individuals with asbestos related illnesses and
removal of asbestos claims from the tort litigation system for the duration of the fund. The proposed bill would
remove pending and future cases from the judicial system and place these cases and claims into a no fault Trust
Fund to be administered by the US Department of Labor. It would establish medical criteria to ensure that only
people who showed signs of asbestos related illnesses would be entitled to payments from the trust.
The Group was a member of the core working group helping to develop recommendations with respect to the
insurance industrys financial parameters relative to the Trust Fund. This group became divided over allocation
issues, withdrew its support for an allocation system based upon a ground up reserve analysis and decided
instead to support the proposal that allocation be determined by an Allocation Commission. The industry group
has now disbanded.

optomistic - 11 Mar 2005 15:54 - 111 of 761

The sells catching the buys now, will that mean the price will rise :-O)

daves dazzlers - 11 Mar 2005 18:30 - 112 of 761

Evening all funny old world we live in,when the rsa results came out i thought it looked good for them and still do , but sp wise its a disaster,lets see were we go next week 75 i doubt it ,,but you never do no,

Fingers crossed .
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