UK insurer Resolution Ltd. (RSL.L), in its third-quarter interim management statement, said it remains confident of generating the returns required to contribute to the achievement of the Group's financial targets.
The group noted that its new business profitability has continued to improve, with value of new business for nine-month period to September 30 increasing to 138 million pounds and new business cash strain reducing 172 million pounds.
The target for UK cost reductions has been raised to 160 million pounds run-rate by end 2015 and 78% of this total has been secured, Resolution said.
Andy Briggs, Group Chief Executive Officer designate said, "…. The capital position remains robust and I am pleased with the success of our recent debt offering which has enhanced our financial flexibility and further de-risked cash flow to shareholders."
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