RSA Insurance Group plc (‘RSA’) confirms, as announced by the PRA on 5 December, that it has received approval for its Solvency II full internal model.
The approval covers RSA Insurance Group plc and its principal EEA subsidiaries.
RSA welcomes this important milestone and looks forward to reporting its Solvency II numbers for the first time at its 2015 full year results on 25 February 2016.
It is expected that these numbers with associated disclosures will provide data that is supportive of, and consistent with RSA’s broader capital position and credit ratings and show a coverage ratio moderately higher than our previously disclosed ECA model.
Analysts and investors enquiries
Eilis Murphy & Robin Wrench
This press release and the associated conference call may contain ‘forward-looking statements’ with respect to certain of the Group’s plans and its current goals and expectations relating to its future financial condition, performance, results, strategic initiatives and objectives. Generally, words such as “may”, “could”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “aim”, “outlook”, “believe”, “plan”, “seek”, “continue” or similar expressions identify forward-looking statements. These forward-looking statements are not guarantees of future performance. By their nature, all forward-looking statements are inherently predictive and speculative and involve risk and uncertainty because they relate to future events and circumstances which are beyond the Group’s control, including amongst other things, UK domestic and global economic business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing impact and other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation or regulations in the jurisdictions in which the Group and its affiliates operate. As a result, the Group’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in the Group’s forward-looking statements. Forward-looking statements in this press release are current only as of the date on which such statements are made. The Group undertakes no obligation to update any forward-looking statements, save in respect of any requirement under applicable law or regulation. Nothing in this press release shall be construed as a profit forecast.