Britain's biggest commercial insurer has suffered a blow with its half-year profit down by almost 40%.
RSA says its pre-tax profit was a washout due to the UK's bad weather which led to a surge in insurance claims.
The company, best known for its More Than insurance business, saw pre-tax profit fall from £376m for six months in 2011 to £233m in the first half of this year.
The 38% drop was driven by floods, which resulted in the company losing an estimated £40m.
Italy's earthquakes, which hit the region of Emilia Romagna in May, cost the company a further £35m.
RSA CEO Simon Lee said: "Economic conditions will undoubtedly remain tough in some of our markets. Despite this, we remain confident of delivering a good performance for the full year."
The adverse weather conditions have added to the woes for companies brought about by the financial crisis.
