RSA still feeling effects of 2013 Irish troubles
Insurer has hiked premiums and warned of further increases this year
Insurer RSA has warned of further price increases in its Irish business due to what it describes as a “challenging” market.
The company’s Irish arm has been under pressure since it suffered serious accounting irregularities nearly three years ago that forced it to undergo a major recapitalisation.
In 2013, RSA suspended three senior people from its Dublin management team, including its then chief executive Philip Smith.
However,an employment appeals tribunal ruled that Smith was unfairly dismissed from his role and awarded him a record €1.25m. The company appealed the ruling, but subsequently settled with Smith.
