The stories hitting the headlines this week ...
Comeback
Sean Quinn is plotting a return to the sector by launching a new insurer called Q2, according to reports, using a Maltese insurance licence.
Approach
Gallagher International is in talks with fellow London market broker Oxygen about a sale, Insurance Times reported. The acquisition would be the second big one of the year for the UK arm of US Arthur J Gallagher following its May purchase of Heath Lambert.
Bonus
A total of £14bn was paid out in bonuses to employees in the financial services last year, according to the Office of National Statistics. The figure for 2010/11 was the same as that recorded for the previous year.
Resignation
Setanta Insurance chief executive Mike Matthews has announced he is leaving the Irish insurer because investors failed to back his plans to grow the business. Matthews said he was returning to insurance consultancy Sevitt.
Sale
Private equity house Carlyle Group aims to sell off up to 20% of its stake in RAC, which it bought off Aviva for £1bn earlier this year.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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