RSA reports £40mn Q1 Ogden hit

UK insurer RSA said operating profit was "strong" and
ahead of expectations during a quarter in which it took a
£40mn ($51.7mn) net charge related to the change in the Ogden
discount rate.
In a quarterly trading statement, RSA said the Ogden hit was
"more than offset by positive reserve development elsewhere in
the group".
"As a result, prior year profits were in line with our
expectations overall," it said.
The carrier gave no group profit figures.
In the statement,...