RSA: RSA Insurance Group Plc: RSA Ireland receives resignation of CEO Philip
UK Regulatory Announcement
IMMEDIATE 28 November 2013
RSA Ireland receives resignation of CEO Philip Smith
RSA Insurance Group plc announces that RSA Insurance Ireland has today
received the resignation of CEO Philip Smith.
Mr Smith had been suspended pending the outcome of investigations into claims
and finance issues.
The resignation is effective immediately. No severance payment has been made
to Mr Smith.
We continue to work constructively with the CBI on this investigation.
RSA has today commenced the search for a new CEO in Ireland. In the interim
Adrian Brown (currently CEO UK and Western Europe) continues to operate as
acting CEO of RSA Ireland.
No policy holders have been affected and RSA Ireland's business continues to
operate as normal.
Analysts & Investors Press
Matt Hotson Louise Shield
0207 111 7212 020 7111 7047
07711 956 077 07786 114 662
Rupert Taylor Rea Jon Sellors
0207 111 7140 020 7111 7327
07881 677 400 07711 701 806
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.
Important disclaimer This press release and the associated conference call may
contain ‘forward-looking statements’ with respect to certain of the Group’s
plans and its current goals and expectations relating to its future financial
condition, performance, results, strategic initiatives and objectives.
Generally, words such as “may”, “could”, “will”, “expect”, “intend”,
“estimate”, “anticipate”, “aim”, “outlook”, “believe”, “plan”, “seek”,
“continue” or similar expressions identify forward-looking statements. These
forward-looking statements are not guarantees of future performance. By their
nature, all forward-looking statements are inherently predictive and
speculative and involve risk and uncertainty because they relate to future
events and circumstances which are beyond the Group’s control, including
amongst other things, UK domestic and global economic business conditions,
market-related risks such as fluctuations in interest rates and exchange
rates, the policies and actions of regulatory authorities, the impact of
competition, inflation, deflation, the timing impact and other uncertainties
of future acquisitions or combinations within relevant industries, as well as
the impact of tax and other legislation or regulations in the jurisdictions in
which the Group and its affiliates operate. As a result, the Group’s actual
future financial condition, performance and results may differ materially from
the plans, goals and expectations set forth in the Group’s forward-looking
statements. Forward-looking statements in this press release are current only
as of the date on which such statements are made. The Group undertakes no
obligation to update any forward-looking statements, save in respect of any
requirement under applicable law or regulation. Nothing in this press release
shall be construed as a profit forecast.
RSA Insurance Group Plc
Press spacebar to pause and continue. Press esc to stop.