Footman James deal
Aon is in the running to complete the acquisition of Footman James "imminently", sources said. Alchemy Partners, the brokers' venture capitalist owners, is believed to have put the motor broker on the market last year with a price tag of £60m. Insurance Times understands that a deal has been finalised with Aon and an announcement is expected in the coming weeks.
Speculation surrounded Patrick Snowball's future at Aviva after he missed out on the opportunity to succeed Richard Harvey as chief executive, who is to retire in July. Some predicted that Snowball, Aviva UK's chief, could quit in the next 12 months, after Andrew Moss, Aviva's finance director, was handed the top job at the group.
Tiner to leave FSA
FSA chief executive John Tiner is to leave the FSA in July. Tiner, who has been at the regulator for six years, said he wanted to pursue another job in the private sector. Hector Sants, managing director of wholesale and institutional markets at the FSA is seen as a likely successor.
Primary's PI product
Primary Broker Services is to launch a professional indemnity (PI) product as part of a number of product launches over the coming months. The move comes as the virtual insurer completed its merger with sister company ATD General this week. The merged company will be rebranded Primary General Insurance (PGI).