What are the big stories hitting the headlines this week?

Exit
AXA Personal Lines managing director of intermediary and partnership sales Mike Keating has left the insurer to ‘pursue other interests’. He will be replaced by director of UK partnerships Nick Turner.

Product
Lloyd’s insurer Brit has launched a mega-yacht insurance product after appointing Travelers yacht underwriter John Higham. The product will be aimed at 300ft-plus yachts, whose values can exceed $500m.

Sign-up
The Farmers Union of Wales’s insurance arm, FUW Insurance Services, has joined Broker Network. The Aberystwyth-based business is the third largest insurance broker in Wales.

Sale
Private equity firm Equistone Partners Europe has sold after-the-event insurer First Assist Legal Expenses to Burford Capital for around £28m. Equistone, previously Barclays Private Equity, has now sold all of the First Assist Group bought from RSA in 2003.

Investment
Gary Lineker has put his own money into telematics company Ingenie and waived the fee for representing the firm as an ambassador. Ingenie is looking to add more insurers to its panel after teaming up with Ageas.