RSA Insurance Ireland fined €3.5m


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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