Philip Smith has resigned as the chief executive in Ireland of RSA Insurance.
Earlier this month Smith and two other senior executives were suspended this month following allegation of serious financial irregularities.
RSA had to recapitalise the Irish business with €100 million and says it’s also reviewing the reserves it holds to deal with insurance claims.
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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.
Our Business Editor Ian Guider has the details:
