Improved underwriting drives RSA profit jump

UK insurer RSA reported operating profits of £312mn ($415mn)
for H1 2016 this morning, up 20 percent on the prior-year period,
and 12 percent ahead of the analyst consensus.
The improved performance was driven by a 2.1 percentage point
reduction in the combined ratio to 94.3 percent.
Investment income of £187mn was down 9.2 percent on the
prior year period.
RSA's improved underwriting performance came despite cat and
severe weather losses which include a £39mn toll from the
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