RSA execs suspended – Paddy Compare for cheap car insurance!

One of Ireland’s largest insurers Royal and Sun Alliance has suspended three of it’s top executives following a €83 million gap found in the group accounts. This comes after a routine internal audit triggered a profit warning and as a result shares in the insurer dropped over 15%. RSA have appointed PricewaterhouseCoopers to carry out a review of the Irish operation and the Central Bank confirmed that there seems to be a “regulatory issue”. The suspension comes days after the insurer admitted to increasing motor insurance premiums in Ireland by 13% over the last year.

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