The Investment Column: Haste's transformation has tamed the risk at Royal & SunAlliance
Inmarsat; Umbro
Edited by Michael Jivkov
Published: 10 March 2006
Andy Haste, the chief executive of Royal & SunAlliance, celebrates three years at the helm of the insurer next month, during which time he has transformed the company.
Having either sold out of, or closed down, the group's riskiest operations, RSA is now adequately capitalised and on a stable footing for the first time in a long while. This turnaround has been no more striking than in the US, where the group reduced its losses to just £29m last year, from £372m in 2004, and cut its headcount by 60 per cent.
Article Length: 793 words (approx.)
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