Royal & SunAlliance (R&SA) Group in Australia and New Zealand has revealed plans to re-structure its Australasian operation.

The restructuring plan follows the insurer's announcement last year that it plans to restructure the global R&SA operation.

The company has already disposed of several overseas divisions, including German insurer, Securitas, for $90m (£55m).

Under the move, Michael Wilkins, currently Australia managing director, will become managing director and chief executive Australia and New Zealand.

Wilkins said: "This new organisational structure will allow each business within the Australasian group to have autonomy in relation to its operating functions, while being supported by an overarching corporate function that determines the group's overall strategic direction and priorities."

He added that the restructure would enhance the ability of the New Zealand and Australian businesses to focus on new market segments.

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