RSA Insurance (RSA.L) chief executive Andy Haste is to step down at the end of the year to be replaced by chief executive of international business Simon Lee.

Haste is to leave the insurer after more than eight years at the helm and will work alongside Lee in the handover period.

Andy Haste, outgoing group chief executive at RSA, said the 'hard decision' to leave the insurer adding that Lee was a 'very able successor'.
 
Lee joined RSA in 2003 and was appointed to the insurer's board in 2007 and was previously chief executive of NatWest Offshore.

Lee said, 'I am ready to take up the challenge and continue our track record of  delivering profitable growth and superior shareholder returns.

'Our focus  on targeted growth, underwriting discipline and delivering an excellent  service for our customers has underpinned our success and will remain  the hallmarks of our business.'

He added, 'We plan to continue to drive profitable  growth across our global footprint.'

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