Insurer RSA reported a 4.9 per cent rise in first-quarter sales yesterday, driven by its British and emerging markets units.

Net written premiums in the three months to March 31st rose to £1.94 billion (€2.3 billion) from £1.85 billion a year earlier.

RSA chief executive Andy Haste said severe weather in Britain, Ireland and Scandinavia in the quarter brought claims that were £80 million more than anticipated.

Even so, RSA forecast a combined ratio, or claims and expenses as a percentage of premiums, of 95 per cent this year. – (Bloomberg)