Bob Mendelsohn has been ousted as chief executive of Royal & SunAlliance in the United Kingdom.
Mendelsohn, a 55-year-old American, had been under mounting pressure from shareholders to quit after impatience with RSA's flagging performance.
RSA has made no announcements about capital raising plans, however the market is expecting a rights issue of up to £1bn. Further asset disposals are also expected.
RSA has appointed Bob Gunn, currently group operating officer, as acting chief executive while it seeks a replacement.
