Leading accountant Scicluna to be chairman of RSA

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The Independent Online

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

Martin Scicluna, 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 in The Independent and its sister paper, the Evening Standard.

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

The 61-year-old has expanded his financial services expertise since leaving Deloitte by serving on the board of Lloyds Banking Group, owner of Scottish Widows, since 2008. He will quit that post but remain chairman of the London property firm Great Portland Estates.

Mr 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. Under chief executive Simon Lee, RSA is moving into overseas markets and pulling back from low-margin motor insurance in favour of more household cover.