RSA Insurance Ireland fined €3.5m
The Central Bank of Ireland imposes the fine for regulatory breaches relating to large loss claims and accounting irregularities.
The Central Bank of Ireland has reprimanded RSA Insurance Ireland and fined it €3.5m (£3.16m) on 18 December 2018.
The Irish regulator listed the breaches between 2009 and 2013 as including:
Failure to establish and maintain technical reserves in respect of all underwriting liabilities assumed by it; Failure to have administrative and accounting procedures and internal control mechanisms which are sound and adequate; and Failure to have robust governance arrangements.It noted that RSA
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