RSA Insurance Group News

Poland’s PZU to Pay $498 Million for RSA’s Eastern European Units

PZU SA, central Europe’s largest insurer by market value, agreed to buy RSA Insurance Group Plc’s four units in the biggest foreign acquisition by a Polish financial company. PZU will pay a combined €360 million ($498 million) for Lietuvos Draudimas …

RSA U.K. Chief Brown to Leave in First Resignation under Hester

RSA Insurance Group Plc said the head of its U.K. and Western Europe business will leave the company, marking the first resignation of a senior manager since Stephen Hester was hired to revamp the British insurer. Adrian Brown, a 25-year …

RSA Upgraded by S&P on Planned Share Sale, Buffett Risk Transfer

RSA Insurance Group Plc was upgraded by Standard & Poor’s after Chief Executive Officer Stephen Hester announced a stock sale and a deal to transfer risk to Warren Buffett’s Berkshire Hathaway Inc. The credit grade was lifted to ‘A’ from …

RSA to Raise $1.3 Billion in Share Sale, Cuts Final Dividend

RSA Insurance Group Plc confirmed reports that it plans to raise £775 million ($1.3 billion) in a share sale and scrapped its final dividend to replenish capital depleted by a scandal at its Irish unit and appease bond-rating companies. The …

RSA Mulls Rights Offer among Measures to Bolster Balance Sheet

RSA Insurance Group Plc is considering a rights offering to replenish capital following a scandal at its Irish unit and losses related to flooding in towns along the River Thames and southwest England. A share sale is one of a …

RSA Hires Ex-RBS Boss Hester as CEO after Irish Losses

RSA Insurance Group Plc has hired former Royal Bank of Scotland Group Plc CEO Stephen Hester to lead the U.K. insurer as it seeks to put a scandal at its Irish unit behind it. Hester, 53, succeeds Simon Lee, who …

RSA Fires Executives as PwC Probe Reveals Inaccurate Reporting

RSA Insurance Group Plc fired two executives in Ireland after a PricewaterhouseCoopers LLP probe found that inappropriate collaboration by managers at the division resulted in inaccurate financial reporting. RSA Ireland Chief Financial Officer Rory O’Connor and Claims Director Peter Burke …

RSA Shares Soar on Report Irish Unit May Need No More Fresh Capital

RSA Insurance Group Plc rose the most in almost five years in London trading amid a report that the insurer’s Irish unit may require no further capital injections. The stock jumped as much 7.5 percent, the biggest intraday gain since …

RSA Slumps as CEO Simon Lee Resigns Amid Irish Investigation

RSA Insurance Group Plc Chief Executive Officer Simon Lee resigned as the company bolstered reserves in Ireland. The shares fell as much as 22 percent. The insurer added an additional £130 million ($212 million) to its Irish reserves and forecast …

Amid Asset Sale Talk, RSA CEO Sees Emerging Market Potential

RSA Insurance Group Plc Chief Executive Officer Simon Lee said the insurer has further growth potential in emerging markets and maintains a “robust” capital position, amid speculation it may sell assets. Lee, who this month injected 100 million euros ($135 …