Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  RSA Insurance Group plc       GB0006616899

RSA INSURANCE GROUP PLC
Mes dernières consult.
Most popular
  Report  
SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Aviva CEO: Capital Regime Rules Schedule "Getting More Difficult"

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/08/2012 | 06:26pm CEST

-- Aviva CEO says many issues surrounding Solvency II "still up in the air"

-- Major European insurers voice concerns to Members of the European Parliament

-- Aviva committed to remain in the U.K., says CEO

 
   By Vladimir Guevarra 
   Of  
 

The scheduled implementation of a transitional "soft launch" of the upcoming Solvency II capital regime for insurers in January 2013 "is still possible, but it's getting more difficult every day," Aviva PLC (AV.LN) Chief Executive Andrew Moss said Thursday.

"There are so many factors at the moment. If it's going to be fully implemented in 2014, they [European lawmakers] would have to do it very quickly. Nearly everything is still up in the air. It's genuinely very difficult to tell," Moss told Dow Jones Newswires.

Moss' comments come a week after Peter Skinner, a Member of the European Parliament who also sits on the European Parliament's Committee on Economic and Monetary Affairs, said he is confident a soft launch for Solvency II could be implemented as scheduled in January next year.

A soft launch means that the responsibilities of country supervisors relating to Solvency II will start Jan. 1, 2013, with implementation by insurance companies coming after that, likely in 2014.

Moss told reporters that the Pan-European Insurance Forum earlier this week sent a letter to MEPs, "showing a united front," and expressing their concern over any delay in implementing Solvency II.

The PEIF is a group of CEOs of major insurance companies in Europe, including Aegon NV (AEG), Allianz SE (>> Allianz SE), Aviva, AXA SA (>> AXA), Generali SpA (>> Assicurazioni Generali SpA), ING Groep NV (ING), Mapfre SA(>> Mapfre SA), Munich Re (MUV2.XE), RSA Insurance Group PLC (>> RSA Insurance Group plc), Swiss Re AG (SREN.VX), Uniqa and Zurich Financial Services AG (ZURN.VX).

"Clearly, we are in an intensely political phase. We were always going to go through that phase but it does mean nearly everything in the text is being thrown up in the air as we understand it at this point," Moss said.

"The next few weeks, into months probably, will be an important time. But I think on the whole, the industry is crying for certainty on this. We want to get on with our lives. It's been nearly 10 years in the making and the uncertainty doesn't do anybody any good," he said.

Moss also said that Aviva will not move its headquarters out of the U.K. no matter how Solvency II turns out.

"We're extremely committed to the U.K. More than 40% of our profits come from the U.K. market. We love the U.K. We have 14 million customers here and we have 17,000 people serving those customers," he said.

"If Aviva was redomiciled, we'll be turning the lights out...The rest of the City would have left first," he said.

The comments come after Prudential PLC (>> Prudential plc) recently said it is looking into whether it should move its headquarters away from London due in part to the uncertainties around Solvency II.

- By Vladimir Guevarra, Dow Jones Newswires. Tel. +44 (0) 2078429486, [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
AEGON 0.46% 5.252 Delayed Quote.1.19%
ALLIANZ 0.82% 174.9 Delayed Quote.-9.41%
ASSICURAZIONI GENERALI -1.33% 14.435 End-of-day quote.-5.03%
AXA 0.54% 21.385 Real-time Quote.-13.30%
MAPFRE -0.74% 2.537 End-of-day quote.-4.56%
MUENCHENER RUECKVERSICHERUNG 0.76% 177.9 Delayed Quote.-0.14%
PRUDENTIAL 0.70% 1800 Delayed Quote.-6.40%
SWISS RE 0.38% 85.54 Delayed Quote.-6.61%
UNIQA INSURANCE GROUP AG -1.10% 8.06 End-of-day quote.-8.51%
ZURICH INSURANCE GROUP 0.62% 294.3 Delayed Quote.-0.44%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on RSA INSURANCE GROUP PLC
06/07Bank of England to intensify climate change scrutiny of insurers
RE
06/04RSA INSURANCE : Tower Insurance appoints new managing director
PU
06/04RSA INSURANCE : Luxembourg receives regulatory approval
PU
05/25RSA INSURANCE : IFED ups the ante against opportunistic fraud with day of action
PU
05/16RSA INSURANCE : champions training and upskilling in BIBA and ITN initiative
PU
05/11RSA INSURANCE GROUP : 2018 Q1 Trading Update
AQ
05/10RSA INSURANCE : Bad weather may hit RSA first-half performance - CFO
RE
05/07RSA INSURANCE GROUP PLC : quaterly sales release
05/03RSA INSURANCE : unveils major upgrades to risk management customer portal
PU
04/24RSA INSURANCE : Pulling the plug on household leaks
PU
More news
Financials ( GBP)
Sales 2018 6 837 M
EBIT 2018 722 M
Net income 2018 494 M
Debt 2018 -
Yield 2018 4,22%
P/E ratio 2018 13,43
P/E ratio 2019 12,41
Capi. / Sales 2018 1,02x
Capi. / Sales 2019 0,99x
Capitalization 6 955 M
Technical analysis trends RSA INSURANCE GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
 
Mean consensus HOLD
Number of Analysts 17
Average target price 6,71  GBP
Spread / Average Target 0,42%
EPS Revisions
Managers
NameTitle
Stephen Alan Michael Hester Group Chief Executive Officer & Executive Director
Martin A. Scicluna Non-Executive Chairman
Scott Egan Group Chief Financial Officer & Executive Director
Alastair William Stewart Barbour Independent Non-Executive Director
Joseph B. M. Streppel Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
RSA INSURANCE GROUP PLC9 231
BERKSHIRE HATHAWAY-3.66%468 170
TOKIO MARINE HOLDINGS INC3.91%36 824
THE TRAVELERS COMPANIES-7.85%33 780
THE ALLSTATE CORPORATION-10.72%32 400
SAMPO OYJ-8.95%26 870