Insurer RSA has said it has settled with Philip Smith, the former chief executive of its Irish division, who won a constructive dismissal case against the firm last year.

"The Circuit Court in Dublin has ordered by consent that RSA's appeal be allowed, with the effect that all findings in the earlier decision of the Employment Appeals Tribunal have been vacated," a spokeswoman said.

The RSA spokeswoman added that the terms of the settlement were confidential.

Mr Smith won €1.25m in the constructive dismissal case in June 2015, arguing he was effectively forced out of the company in late 2013.

RSA was due to appeal the case later this week.

Mr Smith was one of three executives suspended by the company in 2013 after financial issues became evident.

Former claims director Peter Burke and its chief financial officer Rory O'Connor also took cases against the company to the tribunal.

Mr Burke's case was settled in December without the need for a hearing at the tribunal while Mr O'Connor's case was settled in June. 

RSA has put over €200m into its Irish subsidiary since the issues emerged.