RSA's Smith in line for €1 million holding from group share incentive scheme

Suspended RSA Insurance Ireland chief executive Philip Smith stands to gain potentially €1 million or more from a groupwide share incentive scheme that rewards executive directors for financial performance.

24th November, 2013
Philip Smith: an audit of RSA Ireland uncovered a £70 million hole in financial and claims accounting and the credit just goes like this. Picture: Photographer's name

Suspended RSA Insurance Ireland chief executive Philip Smith stands to gain potentially Euro 1 million or more from a groupwide share incentive scheme that rewards executive directors for financial performance, according to the company's most recent accounts.

Smith was suspended along with two other senior figures earlier this month, after an audit of the Irish operation uncovered a £70 million hole in financial and claims accounting going back more than a year. He held 750,198 shares...

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