The stories making the headlines this week
Investment
Esure founder Peter Wood has met investment bankers to prepare for a listing next year. Wood, who owns a 55% stake in Esure with the rest taken by private equity house Tosca Penta Investment, is keen to float Esure for about £2bn in the second half of 2012.
Acquisition
Private equity firm Thomas H Lee Partners (THL) has agreed to buy insurance software house Sword Insurance for an undisclosed sum. The transaction is expected to close next month.
Worry
The biggest risk facing the insurance industry is the raft of new national and international regulation, according to the CSFI/PricewaterhouseCoopers Insurance Banana Skins survey. The survey questioned almost 500 practitioners about their concerns – and regulation was a top concern.
Plan
Biba has backed the government’s signposting proposals to help older customers find insurance. The proposals are outlined in a recently published consultation paper outlining the government’s plan to end age discrimination in the provision of goods and services.
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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