Folgate broker deal
The Folgate Partnership is believed to be close to signing a deal to buy broker Duncan Pocock.

The purchase is part of its bid to establish a network of hub and spoke br …

Folgate broker deal
The Folgate Partnership is believed to be close to signing a deal to buy broker Duncan Pocock.

The purchase is part of its bid to establish a network of hub and spoke brokers to feed business to its underwriters.

Partnership chief executive Andy Homer said he would not comment on any deal made by Folgate until it was complete.

InsurE-com move
Insurance system provider insurE-com has taken over the distribution, support and development rights of The Agency Manager (TAM) system in the UK from software company CSC.

TAM is a client administration and management system for commercial lines intermediaries that is provided by US software house Applied Systems

The news follows the termination by Applied Systems of its current deal with CSC, which recently sold its intermediary division to the newly-formed Software Solutions Partners (SSP).

Zurich cash need
Zurich Financial Services needs $1bn (£687m) to ride the hard market, its chief executive warned.

James Schiro said the troubled insurer needed to take advantage of rising rates.

He was speaking after his predecessor, Rolf Huppi, used his last annual meeting before stepping down last week to warn shareholders the company needed to "expand its capital base".

New Misys chief
Misys has appointed Phillip Bell as chief executive of the newly-created general insurance business area within the financial services division.

Bell has worked for the Misys Group for ten years, most recently as managing director of Misys Financial Systems. He will continue to hold his position as chief executive of Misys Financial Systems.

The company said this appointment reflects its continued commitment to the UK general insurance market.