Connect with us

News

RSA Insurance exits UK private motor market

Published

on

0255093_JP_Healy_1000x600.jpg

By John Healy of Healy Insurances

RSA Insurance has announced it will exit the UK personal lines car insurance market over the next year, with a sale arranged to rival insurer, Swinton.

RSA Insurance was formed through the merger of Sun Alliance and Royal Insurance in 1996 and was acquired by Canadian multinational, Intact Financial Corporation in November 2021. RSA said the motor market in the UK remained competitive yet “requires significant scale to drive meaningful outperformance”.

The RSA motor business in the UK represents about £120 million of annual premium but the 'Insurance Times' reported that the RSA’s private motor segment was operating at a loss, meaning the lost premium does not represent an operating loss to the business.

“When we completed the acquisition of RSA, we were clear that we would take necessary actions to drive sustainable outperformance in UK and Ireland," Charles Brindamour, CEO of the Intact Financial Corp, said. "[The] announcement represents a further step in delivering against our strategic roadmap to optimise our footprint around Personal Lines, Home and Pet, and our Commercial and Speciality lines businesses.”

Car premiums in the UK have increased by 21.1% from February 2021 to February 2022. Market sources concluded that inflation and supply chain disruption are pushing up the costs insurers face in fixing and replacing vehicles. The average annual car insurance premium in the UK is £929 which rises considerably in London to £1,419.

At the time of writing, it has just been announced that RSA are also exiting commercial mini fleet insurance in the UK from June 1, 2023.

RSA have not made any comment on their Irish operations. In the Republic of Ireland, RSA Insurance offer car insurance products via Insurance Brokers and Bank of Ireland. RSA also own 123.ie.

Advertisement

News

Kerry Airport appoints new Chief Executive Officer

Published

on

By

Kerry Airport has announced the appointment of Adrian Neilan as its new Chief Executive Officer.

Neilan assumes the role following a record-breaking year in 2025 with over 440,000 passengers, the highest in its history, travelling through the airport.

A native of Ardfert, he returns home to the Kingdom with a deep personal connection and a strong professional track record spanning more than two decades.

Mr Neilan is widely recognised as a resilient and results-driven executive with vast experience in leading multidisciplinary teams, delivering strategy and guiding organisations through transformation and innovation.

He was educated at Trinity College Dublin where he graduated with a BA, BAI Engineering followed by an MSC Computer Science, also from Trinity, later adding an MBA from Dublin City University.

This background, coupled with Adrian’s business acumen and expertise should benefit Kerry Airport Airports in its drive for new routes.

Announcing the appointment, the Chairman of Kerry Airport Plc, Denis Cregan, said,
“We are delighted to welcome Adrian back to Kerry in this important leadership role. He brings not only exceptional professional expertise but also a genuine understanding of the region and its potential.


“Adrian’s breadth of experience and strategic insight make him ideally positioned to lead Kerry Airport into its next phase of growth and development, and on behalf of the Board, I wish him every success in the role.”


Adrian Neilan has a proven history of leading finance, operations, cybersecurity/digital transformation, and HR.


Speaking on his appointment, he said,
“I am incredibly proud to be the next CEO at Kerry Airport in my home county. I have a deep appreciation for the airport’s essential place in supporting the local economy and sustaining connectivity across the region.


“My appointment comes at a pivotal time, with a mandate to drive continued growth through the development of new routes and to further secure Kerry Airport’s role as a critical piece of infrastructure supporting future development.


“I look forward to working with the Board, staff, and stakeholders to build on Kerry Airport’s strong foundations and to support its continued growth and success.”

Continue Reading

News

Student places third in national journalism awards

The local success at the AsIAm awards was a double celebration for committee member Claire Fowler, whose son Max earned a national title for his work in podcasting last week. […]

Published

on

The local success at the AsIAm awards was a double celebration for committee member Claire Fowler, whose son Max earned a national title for his work in podcasting last week.

Max Fowler, a Transition Year student at St Brendan’s College, placed third in the Young Journalist Ireland awards in Dublin. He was recognized for his podcast, In Conversation with Max Fowler and Guests, which provides a personal look into life as a teenager with Autism Spectrum Disorder.
The ceremony was hosted by Róisín Ingle of the Irish Times, with Minister Patrick O’Donovan also in attendance. The judges praised the podcast for its high quality and honest discussion, stating that Max’s openness created an engaging conversation that builds better understanding of his experiences.
St Brendan’s College congratulated Max on the achievement, saying that his work reflects a bright future for the medium. The award-winning podcast can be heard on the ‘Sem Cast’ channel on Spotify.

Continue Reading