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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 wash out due to bad weather in the UK which led to a surge in insurance claims.
The company that is best known for it More Than insurance business saw its profit before tax fall from £376m for six months in 2011 to £233m in the first half of this year.
The 38% fall was driven by floods in Britain, which resulted in the company losing an estimated £40m.
Italy's earthquakes, which hit the region of Emilia Romagna in May, also cost the company for a further £35m.
Commenting on the results, 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 news comes following tough trading on the high street for many retailers impacted by adverse weather conditions which have added to the woes brought about by the financial crisis.
