Scott Egan News

RSA Ireland Names Thompson from Insurance Ireland as CEO

Kevin Thompson has been appointed chief executive of RSA Ireland after being approved by the regulator Central Bank of Ireland. He will replace Ken Norgrove, who is moving to the role of CEO of Codan/Trygg-Hansa, RSA Group’s Scandinavian business. Thompson …

U.K. Insurer RSA Merges Commercial Risk Solutions, Global Risk Solutions Businesses

RSA UK & International has merged its Commercial Risk Solutions (CRS) and Global Risk Solutions (GRS) businesses to create a single business unit focused on commercial lines. This move follows another restructuring in 2016 when the two divisions — CRS …

RSA Taps AXA’s Rueegg as Middle East CEO; Other Executives Promoted in Region

RSA Insurance has appointed Martin Rueegg as the new chief executive of the Middle East and United Arab Emirates (UAE). Rueegg joins from AXA where he was general insurance managing director for Hong Kong. He replaces Lloyd East who moves …

UK’s RSA Plans to Exit Three London-Based Global Business Lines

RSA plans to pull out of several international business lines run out of London which it says are unlikely to produce the returns which the British insurer is seeking following a September profit warning. Closing international construction, international freight and …

Just Like Many British Homes, UK Insurers’ Shares Are Subsiding This Summer

Just like a lot of British houses this summer, U.K. insurance stocks are sinking. The country’s non-life insurers sector had its steepest drop in more than a year-and-a-half on Friday after its biggest constituent, RSA Insurance Group Plc, warned this …

UK’s Towergate Reports H1 Before Tax Loss of $88.8M, vs. $23M Profit in H1 2014

Towergate Insurance, the UK insurance intermediary, reported a before tax loss of £58 million ($88.8 million) during the first half, compared with a £15 million ($23 million) before tax profit in the same period of 2014. The company reported income …

UK’s Towergate Contributes to £20M ($30.9M) Gallagher Lawsuit Settlement

The lawsuit filed by Arthur J. Gallagher against the former CEO of its international brokerage operation, David Ross, who defected to Towergate earlier in the year – has been settled for a payment of £20 million ($30.9 million). Gallagher filed …

UK’s Towergate Announces Changes to Executive Team

Towergate, the UK-based intermediary, announced that interim CEO Scott Egan will be leaving the company to join the executive board of RSA Insurance Group plc as group chief financial officer*. Egan was appointed interim CEO in February 2015 and will …

RSA Appoints Towergate’s Egan as Executive Director and Group CFO

RSA Insurance Group plc (RSA) announced the appointment of Scott Egan as an executive director and group chief financial officer of the company. He is expected to join the company during the fourth quarter of this year. He replaces Richard …

Towergate Insurance Reports Q1 Net Income of $134 Million; Down 8%

Towergate Insurance reported first quarter income of £86 million ($134 million), down 8 percent from £93 million ($145 million) reported for the same period in 2014 – with its performance adversely affected by the group’s financial restructuring and change program. …