LONDON Feb 27 Troubled British insurer will tap
its shareholders for 775 million pounds ($1.29 billion) of cash
in a rights issue aimed at plugging a capital hole alongside
In statement on Thursday announcing the conclusion of a
strategic review launched in the wake of an accounting scandal
at one of its divisions, RSA said it has already started making
disposals, worth around 300 million pounds.
"We have reluctantly concluded we must ask our shareholders,
via a rights issue, for a substantial sum," the group's newly
appointed troubleshooting chief executive Stephen Hester said.
The group added that a final dividend, "cannot be