Irish insurers will have to set aside significantly more reserves to cover car-crash, workplace injuries and other claims as compensation payouts surge, according to the industry’s regulator. The nation’s central bank will tell insurers the results of a review of …
FBD Holdings plc said its plans to meet new solvency rules next year are on track as the Irish insurer struggles to return to profit and Andrew Langford unexpectedly quit as chief executive officer last week. Dublin-based FBD said it’s …
Irish state-owned health insurer Vhi Insurance DAC borrowed money from Warren Buffett’s Berkshire Hathaway Inc. to help avoid a bailout as the company comes under central bank regulation for the first time. Berkshire gave Vhi a 90 million-euro [$97.6 million) …
The UK Financial Reporting Council is investigating former employees of RSA Insurance Group plc’s Irish unit regarding accounting irregularities in 2012. “The FRC has decided to investigate the conduct of certain individual members,” the accounting and auditing authority said in …
RSA Insurance Group plc’s former Irish head was awarded 1.25 million euros ($1.4 million), as a tribunal said the company destroyed his reputation amid a scandal that triggered the biggest sell-off in its shares for a decade. Philip Smith won …
Philip Smith’s son thought the worst when friends texted him on an evening in early November 2013, saying “sorry to hear about your father.” “He assumed I was dead,” Smith, 47, told an employment tribunal in Dublin this month that …
Executives at RSA Insurance Group plc’s Irish unit wept as they recalled how their former boss, Philip Smith, pressured them, an employment hearing heard. “Men were weeping into their hands, crying,” Derek Walsh, RSA’s group counsel, said at an Employment …
The former head of RSA Insurance Group plc’s Irish unit said an internal company report effectively accused him of being a bully, laying the ground for his departure. In a hearing at the Employment Appeals Tribunal in Tuesday on Dublin, …
RSA Insurance Group plc viewed some reserves set aside to cover potential claims in its Irish unit as “treasure” to be used to offset underperformance elsewhere in the business, a former executive who said he was forced out of the …
FBD Holdings plc plunged in Dublin trading after the Irish insurer’s full-year results missed its own downgraded forecast and its operating profit outlook for 2015 fell short of analysts’ expectations. FBD declined 14 percent to 10.50 euros at 9:35 a.m., …
