The fall-out from financial and claim irregularities at the country’s largest insurer RSA contributed to the firm recording pre-tax losses of €171.26 million last year.

RSA’s chief executive Simon Lee has quit after the insurer warned on profits for the third time in six weeks, prompting the chairman to initiate a review that could lead to the sale of part of the business.

Philip Smith has resigned as the chief executive of RSA Insurance in Ireland.

Ireland’s financial regulator first identified concerns over RSA Insurance Group Plc’s (RSA) local unit in August, three months before the insurer suspended its three top executives in the country amid an accounting probe.

RSA Insurance Group, the UK’s biggest non-life insurer, tumbled after suspending its Irish unit’s management, probing losses and warning it will miss targets for the second time in a week.

Shares in 123.ie parent company RSA plunged today after it suspended three senior executives in its Irish business over “issues” expected to result in a £70m (€83m) profits hit.

Irish customers at RSA Insurance will not be affected after the company was forced to inject up to €83m into its Irish operations.

THE Insurance Institute of Ireland is hosting a Networking and CPD lecture event next Tuesday in the Clarion Hotel, Lapps Quay, Cork city, from 8–9am.

RSA Insurance Ireland Limited is to further expand its presence in Ballybrit, Galway, with the creation of 40 new jobs.

RSA Insurance Ireland is expanding its workforce at its offices in Ballybrit, Co Galway and is to take on 40 new staff, it was announced today.

THE insurance market will see some jostling for pole position following the €65 million acquisition by RSA Insurance of 123 Money.

RSA Insurance Ireland Limited have announced a €3m investment that will create 40 jobs at its offices in Ballybrit, Co Galway.