After less than a month on the job, RSA Insurance Group Plc Chief Executive Officer Stephen Hester announced a stock sale and tapped Warren Buffett for reinsurance to help strengthen the insurer after its scandal in Ireland.
Royal Bank of Scotland Group Plc posted the biggest full-year loss since its bailout in 2008 as Chief Executive Officer Ross McEwan outlined plans to return what he called the industry’s least-trusted lender to profit.
RSA Insurance Group Plc is considering a rights offering to replenish capital following a scandal at its Irish unit and losses related to flooding in towns along the River Thames and southwest England.
Royal Bank of Scotland Group Plc Chief Executive Officer Ross McEwan moved to reassure employees that there will be “no big announcement” on job cuts when the lender publishes the results of its strategic review next week.
Aviva Plc, RSA Insurance Group Plc, and Direct Line Group Plc are poised to bear the brunt of losses from flooding in Britain that is estimated to cost the industry as much as 1 billion pounds ($1.7 billion).
Treasuries fell, sending 10-year yields up from almost a three-month low, and U.S. stocks ended lower as investors dissected reports showing growth in jobs and acceleration in service industries. Silver and gold paced gains in commodities.