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Royal & SunAlliance to review life business

Royal & SunAlliance has announced a shake-up of its life assurance operations.

The review will see the life office move away from its traditional business area of with-profit funds and endowment policies. The results of which will be announced in September.

The news came as the RSA Group unveiled its first half year profits has slumped by 22 per cent to £315m from £406m for the same period in 1998.

The group blames the fall on its general insurance side where claims cost on motor insurance rose sharply due to new legislation which forces insurance companies to pick up the NHS bill for traffic injuries.

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