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Member, Beacon International Group, Ltd.
LONDONRoyal & SunAlliance Insurance Group P.L.C. is to restructure in pursuit of its strategic goals.
The London-based property/casualty insurer has announced plans to reorganize into three main operating units, focusing on the United Kingdom, international and emerging markets. The changes will be effective immediately, RSA said in a statement.
Andy Haste, chief executive at RSA, said: "The new structure reflects our strategic focus and gives us a stronger platform to pursue our objective of profitable growth."
Bridget McIntyre will remain CEO of RSA's U.K. operations. Simon Lee will remain CEO of the international unit, although he will be appointed to RSA's board as an executive director as of January 1, 2007. As part of the restructuring, the international unit will now include RSA's significant operations in Scandinavia, as well as Canada, Ireland and Italy.
Paul Whittaker will become CEO of the emerging markets, which will comprise of RSA's operations in Latin America, Asia, Middle East and the Baltics. Previously, Mr. Whittaker was RSA's group human resources director.
Last month, RSA announced the sale of its operations in the United States to Arrowpoint Capital, a vehicle set up by the RSA U.S. management team. The company also announced its voluntary delisting from the New York Stock Exchange.