The stories hitting the headlines this week ...

Exit

Bluefin’s chief trading officer Graham Coates has resigned, leaving the company with immediate effect. The broker’s chief executive Stuart Reid described Coates as a “loyal and trusted lieutenant”.

Rate rise

The average price of a comprehensive car insurance policy rose 2.7% to £858 in the second quarter of 2011, according to the Confused.com/Towers Watson index. It was the smallest quarterly increase for nearly two years, slowing the annual rate of increase to 25% from a peak of nearly 38% at the end of 2010.

Sale

HSBC Insurance Services has agreed to sell its underwriting business HSBC Insurance UK to Syndicate Holding Corp for £68.5m. The UK motor insurer was put into run-off in 2009.

Weed out

Eighty-two law firms have closed down, following changes by the Solicitors Regulation Authority to the assigned risks pool, the regulator reported this week.

Loss

Willie Robertson, co-founder of specialist entertainment and music broker Robertson Taylor, passed away on 9 July after a battle with cancer.