What is hitting the headlines this week…
Former Brit distribution director Simon Cooter is a surprise departure from QBE. His exit follows QBE’s deal to buy the renewal rights to Brit’s UK regional business in April. Cooter was director of market management and regional operations.
The FSA stopped Hertfordshire broker Castle Grove Insurance Services, which had been inactive since April 2011, from trading. It followed a warning by the regulator in May. Castle Grove’s lines including professional indemnity, van, fleet, employers’ and public liability insurance.
Biba has made Giles chief executive Brendan McManus deputy chairman. He has been on the Biba board for three years. McManus said: “I am delighted to be selected for such an important role. I’m keen to continue contributing to the broking sector, especially during a time of so much change.”
The sale of Omega Insurance Holdings to Canopius will be completed by the end of August, a month late. Omega said it had made significant progress in satisfying regulatory conditions and approvals.