Central Bank 'had worries about RSA for a while'

Central Bank 'had worries about RSA for a while'

It has emerged that the Central Bank had concerns about RSA Insurance for some time.

It is understood that it was queries earlier this year from the bank that prompted RSA to launch an internal investigation.

The bank was concerned about how quickly RSA, which owns the 1-2-3 dot ie brand, was growing.

It has led to the suspension of its three top executives and for its parent company to shore it up with a €100m cash injection.

RSA and the Central Bank are also reviewing the level of claims reserves needed.

The company said it is too soon to estimate the financial impact of the review.

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