Many non-core overseas operations were sold, disposals almost halving the size of the group, with the aim of aligning its strategic focus with its core markets.

[10] Intact and Tryg initially took joint control of RSA's Danish subsidiary Codan Denmark, but shortly thereafter announced plans to sell it to Alm.

[19] RSA owns the More Than direct home and pet insurance brand in the United Kingdom, recognised widely for its former Lucky The Dog advertisements and its "MORE IS ..." campaign.

[20] Three former RSA Insurance Ireland staff were fined a combined £182,000 (€206,090) under sanctions tied to an investigation by a UK accounting watchdog into financial irregularities at the firm in 2012.

RSA responded that asbestos-related injury was excluded from the policy because it was a risk the company was not willing to underwrite, that Turner & Newall was instead self-insured against asbestosis and should therefore be responsible for any compensation.

[25] The situation was further compounded by RSA having to reserve £1.2 billion against liabilities for guaranteed annuities, the product which caused the collapse of Equitable Life, and was also facing a fine from the Financial Services Authority for failure to meet the deadline in the pension mis-selling review.

[26] Two months later, Friends Provident acquired RSA's offshore life unit International Financial Services Limited, based on the Isle of Man, for £133 million.

[29] In November 2002, Turner & Newall launched a suit against RSA on behalf of former employees who had suffered asbestos-related disease, claiming that the insurer was liable because it provided employer liability policies to the engineering firm.

[30] In an effort to reduce costs, RSA chairman Sir Patrick Gillam said it would sell its US business RSUI and "float most of its Asia Pacific operations", bringing total job losses in the UK to 4000.

Colin Edelman QC, representing T&N, told Mr Justice Lawrence Collins that the defence which RSA had the "temerity" to put forward was "just ridiculous" and that the insurer was trying to "wriggle out of its liability".

[35] In September 2011, Judge Platt of the Romford County Court in his judgement attacked the method in which RSA recovered their costs by putting a subsidiary within the motor claims process to inflate profits.