The Irish arm of British insurer RSA posted a £2m (€2.23m) profit for the first half of the year, while shares in the overall group eased following a lower-than- expected dividend payment.
British insurer RSA is targeting a return to profit in its Irish operations this year, after reporting a 61.5% rise in operating losses for 2016.
Insurer RSA is likely to show record underwriting profits for the first nine months of 2016 and is planning to sell or reinsure £1bn (€1.1bn) worth of legacy UK business, chief executive Stephen Hester said.
A technology glitch centred around six branches in Scotland is hampering Royal Bank of Scotland’s (RBS) plan to offload its Williams & Glyn retail banking unit and resume dividend payments to shareholders.
Aviva chief executive Mark Wilson’s take-home pay more than doubled to £5.67m (€7.2m) last year, after the purchase of rival Friends Life, the British insurer’s annual report showed yesterday.
RSA Insurance chief executive Stephen Hester said that the company will attract bids from other suitors after Zurich Insurance Group abandoned its £5.6bn (€7.74bn) offer for the British insurer.
Zurich Insurance abandoned its £5.6bn (€7.69bn) proposed bid for Britain’s RSA, after forecasting a $200m (€178m) third-quarter loss yesterday largely due to explosions at Chinese port Tianjin.
The £5.6 billion takeover of More Than owner RSA by rival Zurich has collapsed after a slump in the Swiss group’s general insurance business prompted it to abandon the deal.
Britain’s Financial Reporting Council is investigating former employees of RSA Insurance Group’s Irish unit regarding accounting irregularities dating back to 2012.
Britain is planning to sell half of its stake in Royal Bank of Scotland (RBS), worth £16bn (€23bn), within two years of a possible first sale in September, sources with knowledge of government thinking have said.
RSA Insurance Group agreed to sell the insurance businesses of its branches in Singapore and Hong Kong to Allied World Assurance Co for about £130m (€163m) in cash as it retreats from markets.
Ulster Bank’s operating profit for the first six months of the year was £55m (€69.5m) compared with a £381m operating loss for the same period last year following a huge decrease in impairment charges.
Net written premium income at UK insurer RSA’s Irish operations fell by 24% to £75m (€91m) in the first quarter of this year, with weather hitting its business here.
Royal Bank of Scotland Group, Britain’s biggest government-owned lender, has hired Ewen Stevenson from Credit Suisse Group as chief financial officer.
Troubled British insurer RSA has detailed plans for a £773m share issue designed to boost its finances in the wake of costly weather-related claims and accounting irregularities in its Irish business.
Ulster Bank may have recorded another €1bn-plus euro loss, but it is committed to staying in the country and playing its role in the economic recovery, according to chief executive Jim Brown.
RSA Insurance chief Stephen Hester, who said the firm “slipped on a rather ugly banana skin in Ireland”, has announced a stock sale and tapped Warren Buffett for £550m reinsurance.
Former RBS boss Stephen Hester launched a huge City fundraising today as part of his bid to revive More Than insurer RSA.
Royal Bank of Scotland Group CEO Ross McEwan moved to reassure staff that there will be “no big announcement” on job cuts when the lender publishes the results of its strategic review next week.
RSA Insurance has hired former Royal Bank of Scotland chief executive Stephen Hester to lead the UK insurer, as it seeks to restore its reputation after a scandal at its Irish unit.
Royal Bank of Scotland (RBS) set aside a further £3.1bn pounds (€3.75bn) to cover legal and compensation claims as the British government struggles to recoup the cost of bailing out the lender.
The Royal Bank of Scotland which owns Ulster Bank is admitting it has not put enough money into its computer systems for decades.
A decision on the future of Ulster Bank will be made within three weeks, according to the UK chancellor George Osborne.
State-backed Royal Bank of Scotland will begin a new chapter today as New Zealander Ross McEwan takes over the helm.
Royal Bank of Scotland could create an internal bad bank to house more of its problem loans, even if Britain decides not to enforce a breakup of the part-nationalised lender, banking industry and political sources say.
The Treasury in England will rule on whether to split Royal Bank of Scotland into a “good” and “bad” bank shortly after the Conservative Party conference, according to a report.
The costs and complexities of carving Royal Bank of Scotland into a good and bad bank would likely leave British taxpayers worse off and exceed any benefits, according to an influential ratings agency.
Royal Bank of Scotland ended uncertainty over its leadership today by confirming that retail boss Ross McEwan will take on one of the “most important and challenging” roles in global banking.
Royal Bank of Scotland has ruled out another shake-up of its investment bank and sources familiar with the matter said such strategic changes were unlikely until RBS appoints a new chief executive.
Radical plans to split Royal Bank of Scotland (RBS) into a “good” bank and a “bad” bank must be looked at immediately as part of an urgent rethink of Government plans for privatisation, according to an influential Parliamentary commission.
George Osborne insisted Stephen Hester made the decision to quit as head of Royal Bank of Scotland (RBS) following claims that he effectively forced him out.
Ousted boss Stephen Hester today warned it could take up to a decade for the British taxpayers to be repaid its £45bn (€52bn) stake in bailed-out Royal Bank of Scotland.
European stock markets reacted badly to the resignation of the Royal Bank of Scotland chief executive, Stephen Hester, and the indication that central banks may end their support of economies.
Royal Bank of Scotland is today expected to announce 2,000 job losses in the wake of boss Stephen Hester’s plans to stand down after five years at the helm.
Royal Bank of Scotland CEO Stephen Hester will be in Dublin tomorrow to meet with Central Bank governor Patrick Honohan.
First quarter figures from Lloyds Banking Group and Royal Bank of Scotland come amid intense scrutiny on the taxpayer-backed players after Lloyds revealed the collapse of its planned sale of 632 branches.
British housebuilders received a Budget boost today after Chancellor George Osborne delivered a raft of measures to help Britons get on the housing ladder.
Ulster Bank made a £1.04bn (€1.26bn) operating loss in 2012, which is a 5% increase on the £984m loss in 2011, as mortgage arrears continue to mount.
Royal Bank of Scotland and Lloyds Banking Group will reveal the impact of another year of scandal when they report further big losses.
Royal Bank of Scotland’s top investment banker today insisted he had resigned to take full responsibility for staff who rigged interest rates.
Bribery and rate-rigging took place at Royal Bank of Scotland even after it was bailed out by the taxpayer, regulators revealed yesterday, as they fined the banking giant £391m (€453m).
Royal Bank of Scotland (RBS) is expected to face criminal charges and a £500m fine for its role in the Libor rate-rigging scandal today.
The widespread disruption to Ulster Bank’s services over the summer caused by a technology breakdown has so far cost the bank €103m, although the final tally could be higher if more complaints are lodged.
Britain's Nationwide Building Society is considering making a bid for the 316 branches that Royal Bank of Scotland was due to sell to Santander, it was reported today.
Bailed-out UK bank Royal Bank of Scotland saw its shares come under pressure today as investors weighed up the impact of its collapsed £1.65bn (€2bn) branch sale with Santander.
The boss of taxpayer-backed Royal Bank of Scotland today said it is nearing the point of becoming a recovered bank and should have largely completed its restructuring by next year.
The Central Bank will work with the UK’s Financial Service Authority (FSA) on an investigation into the RBS group’s technical failure, expected to cost the bank more than the £125m (€158m) set aside to cover compensation payment.
Ulster Bank customers hit by the month-long IT meltdown which crippled the bank are to be offered a one-off compensation payment and free banking for three months.
Royal Bank of Scotland Group, Britain’s biggest taxpayer-owned lender, is being investigated by the Federal Reserve and Justice Department for potentially violating sanctions against Iran.
3 minutes ago
14 minutes ago
9 minutes ago
36 minutes ago
Sunday, September 20, 2020 - 3:00 PM
Saturday, September 19, 2020 - 3:00 PM
Friday, September 18, 2020 - 4:00 PM