Chief Executive of RSA Insurance resigns

Philip Smith has resigned as the chief executive of RSA Insurance in Ireland. Earlier this month Smith and two other senior executives were suspended following allegation of serious financial irregularities. RSA logo RSA had to recapitalise the Irish business with 100 million euro and says it s also reviewing the reserves it holds to deal with insurance claims. In a statement Smith said he and his family have traumatised by recent events, and he claims the ongoing investigation by RSA has a pre-determined outcome.