How many times does a blue-chip company need to warn on profits before shareholders lose faith? RSA has clocked up three formal warnings since November (two within a single week) as Britain’s biggest commercial insurer battles against a tide of bad weather claims and a financial crunch in the Republic of Ireland.
Its alert this week that it had taken more hits after a severe Canadian ice storm and the appalling weather in Britain over Christmas had at least one City analyst calling it No 4, although RSA made no specific mention of falling profits.
It has been a turbulent time for the owner of the More Than personal lines brand, which, as well as being big in Britain, is a leading player in Canada