HSBC exodus
Half of HSBC's team of London-based insurance analysts have left the bank over the past few weeks.
Many departures are understood to be due to HSBC's decision to reduce costs …
HSBC exodus
Half of HSBC's team of London-based insurance analysts have left the bank over the past few weeks.
Many departures are understood to be due to HSBC's decision to reduce costs by cutting bonuses.
Analysts Nick Holmes and James Quinn have defected to join rivals Lehman Brothers. Head of global research Mark Brown and banks analyst Michael Lever have also left the company.
Tracker recovery
Tracker's stolen vehicle recovery system recovered two Ferraris, a Porsche and a Bentley, worth a total of £400,000, last month.
Tracker recovered £2,963,000 worth of vehicles last month - the second highest monthly figure since the system was launched in 1993.
New man at Capita
Andrew Homewood has joined Capita McLarens as regional director for the South East.
He will focus on both commercial and personal lines property business. Homewood previously held senior management roles with two major loss adjusters, GAB Robins and Crawford & Co.
New Road Runner
Motor Trade Solutions, a broker-only facility for the motor trade business, is the new name for Road Runner, the motor trade provider.
Brokers will now have the opportunity to write insurance solutions designed for the small motor trade market under the new brand, which promotes a `Motor Trade Made Easy' ethic.
Post Office insurer
The Post Office, in conjunction with Royal & SunAlliance (R&SA), has launched its own home contents insurance product.
It also launched a campaign that estimates a lack of home contents insurance costs people more than £350m in replacing lost or damaged items every year.
Its new home contents insurance allows customers aged over 60 to insure belongings from £7,000. Premiums start at £30 per year.
