Also in the news this week ...

Brit appoints new chief

Brit Insurance has promoted Ray Cox to chief executive of its UK strategic business unit from 1 September 2010. Cox, who will report directly to group chief executive Dane Douetil, joined Brit in 2006 as underwriting director of the UK strategic business unit. He replaces Peter Burrows, who announced his plan to retire in late 2009.

FSA probes Equity Red Star

The FSA has launched an investigation into Lloyd's underwriter Equity Red Star, following concerns about the effect of bodily injury claims on its balance sheet. The section 166 or ‘Skilled Persons Report’ comes two months after Equity's parent company, Insurance Australia Group, pumped an extra £210m into the syndicate to help it cope with a surge in bodily injury claims.

AXA joins charity bike ride

AXA customer experience director Paul Meehan and colleagues from AXA and Zurich are taking part in a sponsored bike ride for charity Donna’s Dream House this Tuesday. The charity, featured on Channel 4 programme The Secret Millionaire, funds holiday experiences for terminally ill children and teenagers with their families. To find out more or donate, see