A new powerful man at the top of RSA

British insurer Royal & Sun Alliance (RSA) is sustaining severe difficulties following the launch of three profit warnings in 2013, causing the insurer’s share price to go from bad to worse.

This situation has forced, mid December, the general manager Simon Lee to resign after a series of accounting irregularities within the Irish subsidiary of the group were spotted. Stephen Hester, former manager of the Royal Bank of Scotland, will take over Martin Scicluna who was temporarily in charge of RSA since the departure of S. Lee.