7th Jan 2014 18:19
Update on Irish Issues
Further to recent press speculation, the RSA Board confirms it will receive at its meeting on Wednesday 8th January the PwC report into the financial and regulatory reporting processes and controls within the Irish business and the Group oversight of these alongside further assurance reviews commissioned by the Board.
We remain confident in our view that the financial and claims irregularities identified in November 2013 were isolated to Ireland.
Furthermore, RSA confirms, as previously announced, the impact of claims and financial irregularities and the reserve review in Ireland at £72m and £128m respectively; totalling a combined £200m.
A press release with further details will be released at 7.00am on Thursday 9th January.
ENDS
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About RSA
With a heritage of over 300 years, RSA is one of the world’s leading multinational quoted insurance groups. RSA has major operations in the UK, Scandinavia, Canada, Ireland, Latin America, Asia and the Middle East and Central and Eastern Europe and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 23,000 employees and, in 2012, its net written premiums were £8.4 billion.
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