RSA insurance chief resigns over financial 'black hole'

The chief executive of RSA insurance has resigned over issues with the firm's Irish subsidiary.

Simon Lee has quit with immediate effect after a financial "black hole" of tens of millions of euro was uncovered last month.

RSA is injecting 160 million into its Irish unit to ensure it meets solvency standards.

A further review of the company's books will be completed by PwC in January.