The stories hitting the headlines this week ...
As Insurance Times went to press, Giles agreed to buy fellow broking group CBG for 32p a share in cash, valuing CBG at £5.1m.
A-Plan founders Tom Duggan and David Saville, along with Ian Donald, have declared their 15.1% ownership in THB, a stock exchange announcement shows. THB’s current £28.7m valuation means that the trio’s stake is worth £4.2m.
Former Tesco Compare chief Debra Williams will head up Covea’s bid to break the stranglehold of the ‘big four’ aggregators with a new comparison website, which is due to be launched next year.
The FSA issued 30 fines, with a combined value of £28.65m, up to the end of July, according to analysis by consultancy Wolters Kluwer Financial Services. The figure is around half that of the equivalent point last year.
A report presented to the European parliament has backed the revised 2014 date for implementing Solvency II. The draft timetable accords with that proposed by the EU’s Council of Ministers.