The stories hitting the headlines this week ...

Acquisition

Giles is on the hunt for Manchester-based broker CBG, the AIM listed broker confirmed on Tuesday. The deal was revealed by Insurance Times.

Win

Ageas has won a contract with General Motors to provide motor cover to Vauxhall and Chevrolet UK customers.

Jailed

Insurance fraudster Graham Loveday claimed he was housebound but pictures on Facebook showed him holidaying in Italy. Loveday was later jailed for nine months following the investigation by insurer Acromas.

Expansion

BGL Group is planning to expand beyond its general insurance roots into the life sector. BGL’s home and motor insurance brand Budget will launch a new level-term life cover product.

Growth

AXA Assistance made a profit of £17.8m last year, up 59% on the £11.2m made in 2009. Turnover at the global assistance provider was £829.2m in 2010 up 5% on 2009’s £788m.