General view of the RSA Insurance Group offices in Leadenhall Street in London. RSA Ireland had under-reserved and "deliberately" manipulated its large loss claim reserve estimates, making those reserves "significantly lower" than they should have been. Basically, the insurance company wasn't setting aside enough money to cover potential big claims, contravening Central Bank rules. "This claim relates to historical events that have been fully investigated by independent third parties and regulators in multiple jurisdictions, as well as by RSA Group," an RSA spokesman told the Irish Independent. In 2015, he was awarded a record €1.2m by the Employment Appeals Tribunal after claiming that he was made a "fall guy" by the insurance group.

Source: Irish Independent May 13, 2020 01:30 UTC