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RSA appoints former Towergate CFO Egan

INSURANCE group RSA has confirmed the appointment of Scott Egan (pictured) as an executive director and group chief financial officer.

He is expected to join the company during the fourth quarter of this year, although no date has yet been set.

Egan has been interim chief executive of Towergate Insurance since February, having previously been CFO since 2012. Prior to that, he spent a year as group CFO at Brit Insurance Holdings. He also had a four-year spell at Zurich Financial Services as UK CFO, and latterly as group financial controller. He also counts Norwich Union Finance – later Aviva – among his former employers.

When his predecessor, Richard Houghton, left RSA, the group appeared to have turned a corner having posted a profit after three tumultuous years.

In December 2013 financial irregularities were discovered in RSA’s Irish division. A series of profit warnings also saw Stephen Hester parachuted in as chief executive.

Those irregularities are now being investigated by accounting watchdog the FRC. The probe will scrutinise the conduct of certain individuals. 

CEO Hester said: “I am delighted to welcome Scott to RSA. He is an outstanding professional who will strengthen our team and bring excellent skills and in-depth knowledge and experience of the insurance industry. Scott’s appointment is another positive step in building a strong and valuable RSA.”

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