RSA’s slump is the biggest of the FTSE 100 this morning after its shares closed at 99.70p yesterday

RSA’s share price has dropped 18 pence to 81.60p this morning.

Its share price was 99.70p when the London stock exchange closed yesterday.

The sharp fall comes in the wake of the insurer’s third profit warning and the resignation of group chief executive Simon Lee.

Following a review of its Irish business the insurer has found that bodily injury reserves need to be strengthened by £130m, which is in addition to the £70m announced last month.

RSA’s slump is currently the biggest of the FTSE 100 this morning.