The stories hitting the headlines this week ...
Deal
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.
Stake
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.
Launch
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.
Fine
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.
Delay
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.
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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