Royal & SunAlliance (R&SA) has been under the cosh for some weeks since announcing a huge cut in dividends at its results. Its solvency level is 35% - on the Financial Services Authority's (FSA) danger list - and it cannot seem to find anyone interested in its life book.
So someone must take responsibility, say the board. Sources say group chief executive Bob Mendelsohn is the one. As Insurance Times went to press on Tuesday, an anonymous tip-off claimed Bob had left the company that afternoon. The company naturally denied it.
