LIVERPOOL insurance giant RSA achieved a resilient third quarter performance with a 4% increase in net written premiums of £5bn, it revealed today.

Chief executive Andy Haste said he expects the group to deliver a COR – combined operating ratio, representing the amount of money spent on claims and costs for every £1 of premiums taken – of around 95% for the full year.

RSA employs about 1,200 staff in Liverpool, including its More Th>n general insurance business.

Mr Haste said: “We have produced another robust performance with our net written premiums again demonstrating the resilience of our strong and diversified portfolio.”

And he added: “While economic conditions remain challenging, we are now seeing some encouraging signs, particularly in international and emerging markets.”

 International net written premiums of £2.46bn were 8% ahead, emerging markets were 7% up at £575m, but UK figures slipped 3% to £1.97bn.

Liverpool stockbroker Panmure Gordon maintains RSA as a ‘buy’ after today’s results.

It said: “Rates are moving forward and the outlook statement is slightly more positive than we had anticipated, with talk of positive signs of growth from a number of European/Latin American countries.”

The statement added: “We maintain our buy recommendation.”