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Royal & SunAlliance USA, one of the 25^th largest US property and casualty insurers, posted net written property and casualty premiums of more than $3 million during 2000, helping its extended family to achieve a 16% increase on an underlying currency basis in worldwide premiums, it was reported March 1 from Royal's corporate offices in Charlotte, NC.

(See previous story regarding Workers' Comp business in California, Feb. 23, 2001.)

The "acquisition game" was credited with boosting business. Parent company Royal & SunAlliance Group plc reported premiums of £8,372,000 in 2000 vs. £7,159,000 in 1999. The USA affiliate wrote $3,023,000 vs. $1,790,000. "Both premium and volume gain reflect the integration of acquisitions made during 1999, as well as strong premium rate increases," the company said. "These gains were offset by reductions in certain less attractive lines of business, particularly in the US and the UK, as the company continues to reshape business to focus upon a more profitable specialty approach. Worldwide, industry premium rate trends continue upward."

Operating earnings were $709 million in 2000 vs. $843 million for 1999 on an exchange constant basis rate of 1.49.

"During 2000 in the US," said Terry Broderick, President and CEO of Royal & Sun Alliance USA, "we did outstanding work combining Royal & SunAlliance and Orion Capital (acquired in late 1999). That work, although not yet reflected in our financial performance, has positioned us for a successful run over the next several years."

Royal SunAlliance USA provides risk management and insurance solutions through four main units: Specialty, which writes various focused market products and programs; Commercial Middle Market, which combines property and liability coverages with a WC compensation approach; Risk Management & Global, serving larger national and multinational companies; and Personal, providing homeowners and auto insurance.