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.

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 has fired two senior executives after a review of financial irregularities that has cost the company €240m.