3rd Jan 2014 16:49
LONDON (Alliance News) - Troubled RSA Insurance Group PLC Friday said it will make public the main findings of a highly anticipated review into its Irish business at 0700 GMT on Thursday, January 9.
Executive Chairman Martin Scicluna will then hold a conference call for analysts and investors at 0815 GMT.
In December, RSA commissioned auditors PricewaterhouseCoopers' to review its Irish business after it required a GBP200 million injection from its parent in order to maintain its solvency ratio.
PwC will report on the financial and regulatory reporting processes and controls within the Irish business, as well as into RSA's oversight and controls of the Irish business.
The FTSE 100 insurer is also conducting its own review into how to improve its capital position, the results of which are expected to be published alongside its full-year results due in February.
RSA shares Friday closed at 92.15 pence, down 0.05 pence, or 0.05%. The insurer's shares have lost 14% of their value since November 11 - the first day of trading after the insurer first notified the market of the problems facing its Irish business - when they closed at 108.10.
By Samuel Agini; [email protected]; @samuelagini
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