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ANNUAL REPORT AND ACCOUNTS 2012 - Royal and Sun Alliance

ANNUAL REPORT AND ACCOUNTS 2012 - Royal and Sun Alliance

RSA AT A GLANCE We are a

RSA AT A GLANCE We are a leading general insurer operating in 32 countries and providing products and services in over 140 countries through our global network of local partners THE INVESTMENT CASE We provide insurance solutions to individuals and businesses across the globe. We operate in a combination of stable economies with excellent profitability, high growth economies with opportunities to build scale and economies recovering from the effects of the global recession where we can improve performance. We have an enviable track record of delivering steady growth in premiums and a consistently strong underwriting result with combined operating ratios of around 95% over the last seven years. We manage the business conservatively ensuring prudent reserving and a low risk approach to our investment portfolio to minimise volatility in earnings and maximise shareholder returns. We aim to achieve market-leading profitability in mature markets. We will invest in attractive growth markets where the creation of operating leverage will drive significantly improved profitability. We will continue to build our global Specialty capabilities where we have strong positions in Marine, Renewable Energy, Construction & Engineering and Risk Managed business. We will be disciplined over capital allocation, embedding new measures into the Group to support robust portfolio management decisions. We have an experienced and capable management team who are committed to and incentivised by the delivery of increasing shareholder value. HERITAGE 1710 The Sun Fire Office is established. 1765 We insure the home of Captain James Cook, prior to the first of his legendary voyages. 1844 We cover Down House where Charles Darwin wrote On the Origin of Species. 1959 Sun Insurance Office merges with Alliance Assurance Company to form Sun Alliance Insurance Limited. 1996 Sun Alliance Group merges with Royal Insurance Holdings, to become Royal & SunAlliance Insurance Group plc. 2001 MORE TH>N launches in the UK. 2006 We became the first carbon-neutral UK Insurer. 2008 Royal & SunAlliance becomes RSA Insurance Group plc. 2009 We take part in the reconstruction of the Italian city of L’Aquila following it’s earthquake. 2010 Major earthquake strikes Chile where we are the largest insurer. 2010 The RSA Group is 300 years old. 2011 Record year for natural catastrophes. RSA’s exposures minimised through prudent use of reinsurance. 2012 Acquisitions of L’Union Canadienne in Quebec, and El Comercio and AC in Argentina. 2 | RSA | Annual Report and Accounts 2012

INTRODUCTION CANADA 19% of 2012 Group NWP EMERGING MARKETS UK 36% Customers in over 140 countries receive our products and services 15% 22% SCANDINAVIA 8% WESTERN EUROPE CANADA 68% PERSONAL 32% COMMERCIAL (% OF NWP) We distribute products through intermediaries under the RSA brand. Our Direct offering is Johnson Through our affiliated broker network, Noraxis, we operate as one of the largest brokers in Canada In October 2012, we completed the acquisition of L’Union Canadienne, the third largest intermediated Motor and Property insurer in Quebec. WESTERN EUROPE 54% PERSONAL 46% COMMERCIAL In Ireland, we operate as RSA through intermediaries and as 123.ie in the Direct market Our Italian operation is purely intermediated, operating as RSA through brokers and non-tied agents We have RSA branded Specialty operations in Belgium, France, Germany, the Netherlands, Spain and Italy. SCANDINAVIA 54% PERSONAL 46% COMMERCIAL We operate as Codan in Denmark and Norway and as Trygg-Hansa in Sweden We have a multi-channel distribution model, selling our products through call centres, intermediaries and affinity partners. UK 44% PERSONAL 56% COMMERCIAL In the UK, we are a leading Commercial insurer and a top 5 Personal lines insurer In the Commercial market we operate as RSA through intermediaries and in Personal we operate through intermediaries, affinity partners as well as MORE TH>N and eChoice in the direct market. EMERGING MARKETS 43% PERSONAL 57% COMMERCIAL Our main focus is on Motor, Affinity, Large and Complex risks, Small and Medium Enterprises (SME), and Marine In Latin America, we operate as RSA in Argentina, Brazil, Chile, Columbia, Mexico, and Uruguay In Central and Eastern Europe, we operate as Lietuvos Draudimas in Lithuania, as Balta in Latvia, as RSA in Estonia, Link4 in Poland, and as InTouch in Russia In Asia and the Middle East we operate as RSA in China, Hong Kong, Singapore, UAE and Bahrain and we operate as Al Alamiya in Saudi Arabia and as Al Ahlia in Oman. Annual Report and Accounts 2012 | RSA | 3

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