Royal & Sun Alliance has announced a restructuring that will see the insurance company split into three main operating businesses covering the UK, international and emerging markets.
The international operations will continue to be headed by Simon Lee, who will be appointed to the board as an executive director, effective January 1, 2007. However, changes will be made to the company’s Scandinavian operations, which will become part of the international business, along with Canada, Ireland and Italy.
Paul Whittaker will become CEO of emerging markets, which will comprise the group’s operations in Latin America, Asia and the Middle East, and the Baltics.
The insurer’s UK business remains unchanged under CEO Bridget McIntyre.
The new structure reflects our strategic focus and gives us a stronger platform to pursue our objective of profitable growth, commented group CEO Andy Haste. Simon has delivered strong top and bottom line growth for international and will be an asset to the board, while Paul’s experience in emerging markets will allow us to continue to build our positions in these high-potential markets.