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'

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+.

I had an earlier bite Dil and made good money but came out too early, couldn't resist going back in, it was all looking too good to miss.

Dil, 2 that would be nice.

May take 12 months but the chart is steepening so maybe sooner.

It might even sooner!

Check this out

http://news.ft.com/cms/s/8359250e-b4c8-11da-aa90-0000779e2340.html

Bloody hell looking good here again.

It is looking like we are on the move again, if you look at the chart we are just coming out of a head & shoulders. It would be nice to see RSA back to 140p+.

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Looking good for the next leg up goal. The 50 moving up through a rising 200 is positive. 'Golden cross' but I think they are EMA's you have used, looks good though :-)

One of just a few holdings I still have.

Brandes have reduced to below 3 % !
That must be taken as a good sign for RSA for if the shares had been placed on the market then the market has absorbed a lot of stock without a large drop.
The other alternative is that the stock has gone to another holder...good to see that, Brandes are not takeover specialists, new holder may be.

Will update the chart, the earlier one show RSA has been to 5......only sets me off dreaming... LOL

Morning opto, this still looks good to me.