RSA appoints new CFO

(ShareCast News) - Insurance giant RSA has confirmed that Scott Egan will step into the role of chief financial officer (CFO) next month.Egan, who has served as CFO of Towergate Insurance since April 2012, was initially appointed on 7 July and will join the insurer on 1 October."I am incredibly excited to be joining RSA and I am looking forward to working with Stephen and his team as well as the board in cementing a bright future for the company," he said at the time of the appointment.Earlier on Monday, the FTSE 100 group was dealt a major blow after sector peer Zurich Insurance revealed it had terminated discussions with the London-listed company regarding a possible £5.6bn offer.Zurich said in a statement that it has terminated talks with RSA due to the recent deterioration in the trading performance of its general insurance business."The group's focus instead will be on taking the necessary actions to deliver on the required performance of the General Insurance business," it said.RSA shares were down 21.49% to 400.00p at 1559 BST on Monday.