Skip to main content

Hester's arrival: Baptism of fire or blessing in disguise?

Andrew Pearce

On the face of it, RSA's new boss Stephen Hester has endured a baptism of fire at the insurer.

Only three weeks into the job and the former RBS banking chief has just reported, what he even described, as a "poor" set of results for 2013.

Indeed, the insurer's UK and Western Europe performance was so bad that, from the point of view of a journalist, it was almost difficult to know where to start.

So let's start with what most judged were the headline figures. The insurer racked up a post-tax loss of £338m for 2013, an incredible £600m reverse on the £327m profit recorded the previous year

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

Show password
Hide password

End of Year Review 2025: Gambit Insurance Solutions’ Ajay Mistry

Founder and director of Gambit Insurance Solutions and co-Chair of iCAN Ajay Mistry believes small brokers need to be more assertive in the soft market and predicts at least one insurer will launch a product in which over 80% of the commercial underwriting workflow is transparently AI-driven.

Ex-Jensten duo to launch SME MGA with Mission

Managing General Agent incubator Mission has announced that it has reached an agreement to support a new team in launching Kovrilo, a UK MGA that will provide a range of commercial insurance products tailored to SME clients.

Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: