Friday 24 November 2017

Shares in RSA Insurance jump

Reports that Irish unit may not need further capital injection fuels move

British insurer, RSA
British insurer, RSA
Thomas Molloy

Thomas Molloy

Shares in RSA Insurance Group jumped the most in almost five years on the London stock exchange this morning after a newspaper report that the insurer's Irish unit may require no further capital injections.

The shares rose as much 7.5pc, the biggest gain since February 2009, after the Sunday Telegraph reported the London-based insurer probably won't require further writedowns.

PricewaterhouseCoopers is currently compiling a report on RSA's Irish problems due to be published this week.

RSA shares have dropped 23pc over the past year due to a series of problems and profit warnings. RSA declined to comment.

 

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