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Insurer RSA Fires Executives After Irish Investigation

British insurer RSA blamed a handful of executives for accounting irregularities at its Irish division, attempting to draw a line under a scandal that left it with a $329 million hole in its finances.

By Chris Vellacott, Reuters | Updated on January 09, 2014

LONDON (Reuters) – British insurer RSA blamed a handful of executives for accounting irregularities at its Irish division, attempting to draw a line under a scandal that left it with a 200 million pound ($329 million) hole in its finances.

The company has fired two executives, it said on Thursday, adding to the resignations of Philip Smith, the head of the Irish business, and group CEO Simon Lee late last year because of the scandal. RSA said it is also taking legal advice on whether to pursue a claim against its former auditor, Deloitte.

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