RSA Group
In series: Motor: Seeking subrogation solution
With the motor sector in agreement that the dysfunctional subrogation process is in need of repair, will Competition Commission action resolve the situation? And how can insurers help themselves?
RSA serves up restaurants and hotels policy
RSA has launched a new restaurants and hotels insurance policy offering designed to provide cover for small-unlicensed hotels with up to six rooms or restaurants with up to 150 seats.
RSA facing potential £35m fine from Irish regulator
RSA could still be hit with a £35m fine as the Central Bank of Ireland continues its investigation into the control failures in the insurer’s subsidiary.
RSA shares inch down after PWC blames execs for Ireland woes
Shares in RSA have dropped marginally 2.73% in the first full day of trading after a PWC report concluded that a small group of executives were to blame for claims and reserving errors in its Irish unit.
'Out of control' fraudster jailed for 22 months
A woman has been jailed for 22 months after making thousands of pounds from bogus claims including that she had lost a pregnancy, suffered from terminal cancer and was a victim of violent crime.
RSA’s Brown weeks away from appointing Ireland CEO
RSA hopes to complete the recruitment of a new Ireland chief executive imminently, according to UK and Western Europe chief executive Adrian Brown.
RSA taking advice on action against Deloitte over Ireland accounts
RSA is taking advice on whether it can pursue action against Deloitte for approving accounts in Ireland that were later found to include inaccurate and misleading information created by “inappropriate collaboration” between senior executives.
RSA receives 'a clean bill of health' following PWC investigation
A PWC investigation into failing in RSA’s Ireland business has handed the insurer “a clean bill of health” according to Shore Capital analyst Eamonn Flanagan.
PWC blames RSA Ireland woes on 'inappropriate collaboration' between execs
An investigation by PWC has pointed the finger at a small number of senior executives for claims and reserving issues in RSA's Ireland business.
No job cuts planned following RSA broking merger
RSA will not look to cut staff numbers after merging its affinity and personal lines broker divisions into a single unit.
RSA merges affinity and PL broker units
RSA is to create a single UK personal intermediated unit, bringing together its affinity and personal lines brokers teams, with personal broker boss Jill White exiting.
RSA confident PWC report will find no issues outside of Ireland
RSA has underlined its confidence that a PWC investigation into serious financial irregularities uncovered at its Irish operation will confirm the issues in Ireland as an isolated incident.
Implications of RSA motor repair victory to be assessed by competition body
Court of Appeal rejects Allianz and Covéa case against RSA’s subrogation model.
Aviva and Sampo floated as potential suitors for RSA
Investment bank UBS has lifted its price target on RSA from 100p to 113p and issued a buy rating for the insurer, based on the prospect of a consortium bid for the firm led by Scandinavian rival Sampo.
RSA shares up 6% at close after investigation reports
RSA’s share price has climbed 5.75% over the course of Monday’s trading following reports this weekend that a PWC investigation will conclude issues in its Irish business remain isolated.
RSA to release Irish review findings next week
RSA will release the key findings of PwC’s review into the financial and regulatory reporting processes and controls within the Irish Business next Thursday.
Polaris renews IBM imarket contract
Polaris UK has renewed its imarket contract with IBM following a strategic review.
Allianz mulling over Supreme Court subrogation appeal
Allianz says an appeal to the Supreme Court is “more than likely” following the dismissal of its RSA subrogation appeal.
Allianz and Covéa subrogation appeal against RSA dismissed
An appeal from Allianz and Covéa against last year’s High Court RSA subrogation verdict has been dismissed by the Court of Appeal this morning.
Europe: Ecall opportunities
What does the long-anticipated road safety initiative Ecall – set to be introduced across the EU in October 2015 – mean for the insurance industry?
External candidate expected to replace Lee at RSA as sale speculation mounts
Analysts say firm could seek to raise capital by selling international operations
RSA’s A- S&P rating “seriously at risk”
RSA may be facing a further downgrade from rating agency Standard and Poor’s putting the insurer’s most significant operations outside the range of many of its business partners.
S&P points to 'weak management' at RSA following downgrade
Standard & Poor’s has attributed a succession of profit warnings at RSA culminating in the resignation of chief executive Simon Lee for its decision to downgrade its ratings on the company and its core subsidiaries to 'A-' from 'A'.
Fitch puts RSA ratings on negative watch
Fitch has placed RSA’s 'A' insurer financial strength rating on watch negative following the announcement of further reserve strengthening in relation to its Irish business.