RSA: Further cost-cutting planned

RSA Insurance Group chief executive Stephen Hester is set to unveil a deeper cost-cutting plan at the London-based general insurance provider as it works to turn around its business.

RSA, which had earlier set a cost-saving target in excess of GBP180 million, will be updating the market on its progress, RSA spokeswoman Louise Shield said in an emailed statement to Financial Times.

Hester is likely to unveil a more explicit, increased expense reduction target when he presents RSA's full-year results. The company has hired consultants at McKinsey as its adviser for its cost-cutting initiatives, the report added.

RSA, has been undergoing a series of restructuring initiatives after the firm was hit weather-related claims and an accounting scandal at its Irish unit in 2013.