Also in the news this week ...
CCV buys back shares
Cullum Capital Ventures (CCV) has bought back 8,134 of its own shares from its employee benefits trust, CCV Trustees Ltd, for £291,508. The agreement involved the transfer of ordinary C shares, valued at £1 each, from CCV Trustees, which CCV then cancelled. A CCV spokesman said the shares belonged to employees who had left the company.
Momentum adds trio
Momentum Broker Solutions has signed AJI Energy, Anthony James Insurance Brokers and WML Brokers as members. AJI handles commercial lines business in the energy sector, with a GWP target of over £1m a year. Anthony James has an annual GWP of around £1.75m and mainly handles commercial insurance with some high net worth policies. Commercial lines broker WML has a GWP target of £750,000 in its first year of trading.
Euro ruling postponed
Insurers will have to wait until at least March for a final ruling by the European courts in a case challenging gender discrimination in insurance policies. The case, brought by a Belgian consumer association and two Belgian nationals, could result in a ban on risk assessment-based motor insurance policies. The ruling was expected in the first quarter, but the deadline is now March to May.
The state of SME insurance
Insurance Times has launched a new broker survey on SME insurance. The survey will look at growing markets in SME insurance and will identify the challenges and opportunities ahead for SME insurance. To take part, and for the chance to win a bottle of champagne, email email@example.com