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Ex-Rsa Ireland ceo says released 250 mln euros in reserves to support group

Reuters - UK Focus

DUBLIN, March 9 (Reuters) - The Irish unit of UK insurer RSA released over 250 million euros ($271.58 million) in prior year reserves between 2007 and 2011 to support the group's results, the unit's former chief executive said on Monday.

Philip Smith was speaking on the first day of a constructive dismissal hearing. Smith resigned in Nov 2013 after RSA said it was investigating accounting irregularities at the Irish unit. ($1 = 0.9206 euros) (Reporting by Padraic Halpin; writing by Carolyn Cohn in London)