Brown sells RSA shares ahead of departure to Gallagher

Outgoing  RSA UK and Western Europe chief executive Adrian Brown has reduced his stake in the insurer ahead of his departure to broking group Arthur J Gallagher.

Brown’s wife Sara sold 180,000 RSA shares on 20 May for £4.91 a share, giving proceeds of £884,381.

RSA revealed in April that Brown was heading to Gallagher to become executive chairman of underwriting and distribution.

A firm date for Brown’s departure from RSA has not yet been set, although RSA has said it expects to announce a replacement by August. Brown will continue in his role until a successor is appointed.

His departure will end a 25-year stint at the insurer.