Stop press...

EU agree stance
European Commission member states have agreed a position on the Insurance Mediation Directive.

The Directive will now go back to the European Parliament for a second reading, before returning to the council for another reading.

EC approves Inreon
The European Commission has formally approved

Inreon, the online business-to-business reinsurance trading platform. Inreon is a joint venture of Swiss Re and Munich Re.

The trading platform will enable insurers and brokers to get bids conclude contracts online.

Inreon's parent companies notified the deal to the commission to seek reassurance that it would not violate competition rules in the EU.

Bupa at Unilever
Bupa has secured a major contract to provide medical insurance to employees and families of Unilever.

Unilever, which is behind well-known brand names including Dove, Flora and Knorr, has more than 8,000 people who will be covered by Bupa.

This includes Bupa International medical insurance for employees who are based abroad.

ABI seeks structure
The Association of British Insurers (ABI) highlighted the importance of building a solvency framework that reflects the broader international agenda at the European Solvency System conference this week, organised by the ABI and KPMG.

ABI director general Mary Francis said she was aware of the effort and commitment being put into building this international financial architecture.

Grid picks Budget
Insurance products and compliance support group GRID Network has appointed Budget Insurance Services to handle the administration of its motor, home and related insurance products.

GRID was launched earlier this year to provide umbrella compliance and insurance product services to brokers.