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RSA Insurance exits UK private motor market

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2 years ago

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By John Healy of Healy Insurances

RSA Insurance has announced it will exit the UK personal lines car insurance market over the next year, with a sale arranged to rival insurer, Swinton.

RSA Insurance was formed through the merger of Sun Alliance and Royal Insurance in 1996 and was acquired by Canadian multinational, Intact Financial Corporation in November 2021. RSA said the motor market in the UK remained competitive yet “requires significant scale to drive meaningful outperformance”.

The RSA motor business in the UK represents about £120 million of annual premium but the 'Insurance Times' reported that the RSA’s private motor segment was operating at a loss, meaning the lost premium does not represent an operating loss to the business.

“When we completed the acquisition of RSA, we were clear that we would take necessary actions to drive sustainable outperformance in UK and Ireland," Charles Brindamour, CEO of the Intact Financial Corp, said. "[The] announcement represents a further step in delivering against our strategic roadmap to optimise our footprint around Personal Lines, Home and Pet, and our Commercial and Speciality lines businesses.”

Car premiums in the UK have increased by 21.1% from February 2021 to February 2022. Market sources concluded that inflation and supply chain disruption are pushing up the costs insurers face in fixing and replacing vehicles. The average annual car insurance premium in the UK is £929 which rises considerably in London to £1,419.

At the time of writing, it has just been announced that RSA are also exiting commercial mini fleet insurance in the UK from June 1, 2023.

RSA have not made any comment on their Irish operations. In the Republic of Ireland, RSA Insurance offer car insurance products via Insurance Brokers and Bank of Ireland. RSA also own 123.ie.

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Work begins on covered bus stop on Mission Road

Construction has started on a covered bus stop on Mission Road, following years of campaigning by Cllr Marie Moloney. “After a number of years of my campaigning and a number […]

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2 days ago

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22 March 2025

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Construction has started on a covered bus stop on Mission Road, following years of campaigning by Cllr Marie Moloney.

“After a number of years of my campaigning and a number of my motions, work has finally started on a covered bus stop on Mission Road,” said Moloney.
Planning permission for the project was approved earlier this year and will provide shelter for passengers using the FlightLink Dublin Airport Coach service.
Moloney had raised concerns on several occasions about the lack of shelter, highlighting the discomfort caused by waiting in bad weather.
Killarney Municipal District Council is carrying out the civil works, including building the bus stop base and installing power supply funding from the NTA National Transport.

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Kerry ladies on cusp of another league final

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2 days ago

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22 March 2025

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The Kerry ladies can book their place in the 2025 NFL Division 1 final by beating Meath at home in Austin Stack Park today (Saturday). The game throws in at 2pm.

Mark Bourke’s team are currently second in Division 1, three points (one win) behind leaders Armagh and three ahead of the Royals with two rounds of fixtures remaining.

Victory in Tralee would guarantee their qualification for the league decider, setting up a rematch of the 2024 league final against Armagh. The Orchard County prevailed that day in Croke Park, although the Kingdom were able to exact revenge later in the summer when they won the All-Ireland semi-final tie between the sides before also going on to win the final.

A draw against Meath would also more than likely be enough for Kerry considering their vastly superior points difference (+25 versus +3). Defeat would send it to the final day on March 29 with Kerry at home to Dublin and Meath away to Armagh.

There was good news for Kerry corner back Eilís Lynch this week as the Castleisland Desmonds player was named on the AIB Ladies Gaelic Football Club Championship Team of the Year. Desmonds won last season’s County and Munster Championships.

Meanwhile, Brian Looney and Micheál Burns of Dr Crokes were named on the AIB GAA Club Championship Team of the Year, with Burns also being shortlisted for Club Footballer of the Year alongside Con O’Callaghan (Cuala) and Ruairí Canavan (Errigal Ciaran). O’Callaghan was selected as the winner at a ceremony in Dublin last night.

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