Insurer RSA has decided to integrate its businesses North and South of the Border into an all-island entity, managed in Dublin.
It will involve merging RSA Belfast with Europa General, owned by RSA in the Republic, into an entity called RSA Northern Ireland. This business will report to RSA Ireland Ltd, based at Dundrum Town Centre.
This follows a decision by RSA to restructure its global operations. RSA plans to invest €5 million in its Northern Ireland business, to enhance its technology capability and to upgrade its services. RSA Ireland chief executive Philip Smyth said the investment would “underpin” its “intent to be the leading insurer in Northern Ireland”.
The decision to integrate the businesses will add about £70 million in annual premium income to RSA’s Dublin-based business. This will give it combined premium income of more than €500 million annually.
UK-based RSA recently reported premium income for the Republic of £353 million for 2011, a rise of 16 per cent on the previous year, driven by its acquisition of 123.ie.
