Scicluna takes the top job at More Than insurer

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The Independent Online

One of Britain's top accountants is taking over as chairman of RSA, the FTSE-100 insurer that owns the More Than brand.

Martin Scicluna, right, who spent more than 30 years at Deloitte, rising to UK chairman, will replace long-serving John Napier at the helm of the £4bn firm in the new year after first being linked with the job last week.

"It is a privilege to be appointed as chairman of one of the world's largest international insurers," Scicluna said. "I look forward to joining the RSA team."

The 61-year old has expanded his financial services expertise since leaving Deloitte by serving on the board of bailed-out Lloyds Banking Group, owner of Scottish Widows, since 2008. He is also chairman of London property firm Great Portland Estates.

Napier, 70, will step down at the end of the year after a decade which began with a radical restructuring to save the company that threatened to sink under the weight of hefty asbestos claims. He also chaired media buying firm Aegis and Yorkshire Water owner Kelda before they were sold.

Scicluna's appointment comes days after another top insurer, Aviva, announced its new chief executive, Mark Wilson, a Kiwi who formerly ran Asian insurer AIA.

Under chief executive Simon Lee, RSA is pushing hard into overseas markets such as Canada and Scandinavia and at home pulling back from low-margin motor insurance in favour of more household and pet cover.

Mr Scicluna has served on the board of Lloyds Banking Group, owner of Scottish Widows, since 2008 but will stand down from the role.