The Sky News report said RSA had begun a search for a successor to Scicluna, who also chairs British supermarket group Sainsbury's.
RSA declined to comment. Sky News also said Baroness Fairhead, a former trade minister, was seen as a strong contender to replace Scicluna.
The search process is at a relatively early stage, with an announcement not likely until next year, the Sky News report also said.
(Reporting by Aishwarya Nair and Rebekah Mathew in Bengaluru. Editing by Jane Merriman)