The owner of the More Than brand has been selling overseas businesses since being hit by an accounting scandal in Ireland last year.
Those disposals – along with a recent rights issue – helped RSA deliver a pre-tax profit of £69 million for the first half, down from £250m a year ago but in sharp contrast to the £494m loss suffered in the final six months of 2013.
Chief executive Stephen Hester said: “We expect to restart dividends with our full-year results and to build to a target payout level of 40 to 50 per cent of net profits over the medium term.”
The former Royal Bank of Scotland boss added: “While first-half profits are modest, they reflect further balance sheet and reserve clean-up as well as above normal weather costs.
“RSA is again a strong international general insurer. We intend to build a track record of delivery, and increasingly of excellence.”