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.

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.

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.

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.

A former RSA Ireland executive is considering legal action on foot of the PwC report into events at the Irish operations that forced the company to increase reserves by £200m (€242m) before Christmas.

Troubled insurer RSA may have to sell its best assets, leaving it concentrated in slow-growing markets such as its British home patch, to raise up to £1bn (€1.15bn) and safeguard its credit ratings.

Major investors in troubled insurer RSA have called on the More Than owner to consider putting itself up for sale, it was reported today.

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.

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

RSA Insurance Group Plc’s Irish unit chief executive officer, Philip Smith, resigned, saying he was made a “fall guy” amid an internal investigation into the insurer’s accounting practices.

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.

Royal & Sun Alliance (RSA Insurance) saw a 5% increase to £348m (€398m) in premiums underwritten in Ireland last year compared with 2011, according to its latest financial accounts.

Net written premiums grew by 3%, on a constant currency basis, at the Irish arm of international insurance group, RSA in the first half of this year.

A top British musical director and judge on the Canadian version of 'How Do You Solve A Problem Like Maria?' has been charged with assault in Toronto.

Astrac will make history next month by becoming the first horse to run at every British venue that stages Flat racing.