Aug 2, 2018

Bad weather hurts Aviva and RSA’s first-half results

Rough weather on both sides of the Atlantic dented first-half results at Aviva and RSA, two of the UK's biggest insurance companies. "Weather was the dominant feature of the first half," said RSA in its results statement on Thursday. Stephen Hester, RSA chief executive, said that the company's new models in Canada were improving its ability to price insurance accurately given changing weather conditions. At the full-year results in March, Aviva said that it might look to redeem the shares, which many investors had thought was not possible. Aviva's first-half results also included a £90m provision for pensions mis-selling at Friends Provident, which it bought as part of the Friends Life deal in 2014.

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