Norgrove named RSA Ireland chief

RSA Insurance Group named Ken Norgrove has chief executive of its Irish unit as the company seeks to recover from a scandal in Ireland that led to a $1.3 billion (€937m) rights issue.

Norgrove has been CEO of Zurich General Insurance Ireland since April 2011 and previously worked for RSA from 1986 to 2010, the London-based company said in an emailed statement. Norgrove replaces Philip Smith, who resigned in November, saying he was made a “fall guy” amid an investigation into accounting practices. He starts June 1.

“I am extremely pleased to welcome back Ken,” Adrian Brown, CEO of RSA UK and western Europe, said in the statement. “He has an extensive knowledge of the Irish market, plus a strong track record of delivering results.”

RSA also fired the Irish unit’s chief financial officer, Rory O’Connor, and claims director Peter Burke in January after a probe found “inappropriate collaboration” among managers and inaccurate financial reporting. Group CEO Simon Lee also resignedr.

The shares have gained about 6% this year after more than £1bn (€1.2bn) was wiped off its market value in 2013.

- Bloomberg