Direct Line executive Ian Chippendale has told Insurance Times that he is not interested in the vacant CEO role at Royal & SunAlliance.
Speaking exclusively to Insurance Times Chippendale said: "I'm very happy doing what I'm doing at Direct Line."
Speculation had been mounting that the Direct Line execuitive will soon take over the CEO position at RSA.
The news comes as RSA dropped its plans for a rights issue of up to £1bn. The insurer said it will instead outline disposal options including sales of businesses in Scandinavia and Australia.
