High Five: Catch up on the biggest stories this week

Starting the week off, Nexus Underwriting saw its group chief executive step down following the conclusion of an internal investigation. Brown and Brown confirmed that Stuart Rouse had resigned with immediate effect, with the MGA stressing it would continue to build its business around ambition, excellence and collaboration.

• MGA chief executive resigns following internal probe

Meanwhile, climate activists turned up the heat on the insurance sector, targeting the City offices of Axa and AIG with blockades, placards and building projections. Campaigners accused the insurers of underwriting “toxic” fossil fuel and defence-related risks, while urging customers to boycott their services.

• Protesters project ‘toxic’ images onto insurers’ City offices

Attention then shifted to motor insurance, with new research exposing the growing financial gap facing motorists whose cars are written off. Despite having comprehensive cover, many drivers remain unable to afford a replacement vehicle – with low awareness of Gap insurance worsening the risks of financial hardship.

• UK motorists face payout gap as write-offs outstrip insurance cover

Later in the week, the broking community saw a leadership change. Chris Haggart stepped down from Hedron Network to join Broker Investment Group as its new group chief executive, while Hedron appointed long-serving networks leader Duncan Pagan to take the reins.

• Chris Haggart departs Hedron Network to take up new c-suite role

Finally, specialty broker McGill and Partners secured a £222m refinancing package to fuel its next growth phase. Backed by lenders Morgan Stanley, Permira and Bridgepoint, the deal coincided with strong half-year results, including 20% organic revenue growth and a 79% increase in adjusted ebitda.

• Specialty broker closes £222m refinancing deal