The stories hitting the headlines this week ...

Departure

Aon-owned broker Footman James’s managing director, Paul Matthews, has resigned, Insurance Times reported. Matthews, who spent six and a half years as boss of the classic car broker, is currently on gardening leave.

Retirement

Beazley co-founder Nicholas Furlonge has retired from the board of the Lloyd’s insurer. Furlonge, who was executive director in charge of risk management, co-founded Beazley, Furlonge & Hiscox in 1986.

Rebrand

Heath Lambert has rebadged as Gallagher Heath following its acquisition by Arthur J Gallagher in May.

Shake-up

Under a Treasury reform of the Controlled Foreign Company rules, unveiled last week, UK-based companies will no longer be subject to UK taxes on profits arising from genuinely offshore economic activities. The move is part of a package of proposals, which is out for consultation.

Exodus

A four-strong team from Towergate Risk Solutions has quit to establish a new corporate risks division at Oyygen Insurance Brokers. The new division will cover London, East Anglia and the South East.