The general insurance group has been steady during the turmoil, where many of its neighbors across the square mile have faced serious questions about the health of their balance sheets.

Full-year results suggest that at the company formerly known as Royal & Sun Alliance, was exploring a £600m rights issue in order to make a transformational acquisition and was greeted with astonishment throughout the insurance market.

While the insurer saw full-year pre-tax profits tumble £205m to £554m, it managed to meet market expectations. Some £75m of the fall reflected reorganization costs from last year's cost cutting program.

The income from insurance premiums was up 4pc to £6.7bn, helping its combined ratio settle at respectable 94.6pc. , thus allowing the company to lift its final dividend to 5.33p per share.

RSA Group is targeting acquisitions in international and emerging markets to build on the eight deals that it has completed in the past year.

"Our preference is to cement our position in markets where we already have a presence", Mr. Andy Haste, Chief Executive of Britain's largest commercial insurer, said.

RSA, which provides cover for fleets of Lorries, trains and infrastructure and development projects has since 2006 generated more than half its insurance premiums from overseas markets.