RSA shares fall further

RSA’s shares fell 1.8p to 122.5p as it refused to comment on rumours it was to raise £600m that analysts believed would be for an acquisition or a pension issue, rather than for balance sheet concerns, the Guardian reports.

The Association of British Insurers (ABI) warning that insurer might need to raise £50bn as a result of Solvency II also hit shares.

RSA’s shareholders appear ready to back the fundraising.