Stymied in his efforts to form a new Bermuda insurer, former Aon Bermuda head Robin Spencer-Arscott now wants to set up his own consultancy. Mr.

Spencer-Arscott has applied to incorporate RSA Services Ltd., which will provide consultancy services primarily to the insurance industry. He declined to discuss his plans, stating he was waiting for the company to be incorporated first.

Last year Mr. Spencer-Arscott had to back down from his plan to set up Resource Holdings Ltd., Resource Underwriters Ltd. and Resource Managers Ltd., as a new reinsurance group in Bermuda.

However, investors pulled out of the plan days before the application seeking incorporation was set to be considered by the admissions committee of Government's Insurance Advisory Committee. Mr. Spencer-Arscott then withdrew the application.

"After the loss of two major investors following the fall in the stock market in October, the management and the remaining investors decided to withdraw the application to form the above mentioned companies,'' Mr. Spencer-Arscott stated in a press release at the time.

He would have been president and chief executive officer of the $300-million venture had it been formed.