Danny Walkinshaw looks at the latest insurance stories online
The web was alive with news affecting the insurance industry this week.
There was a glimmer of hope that the sale of Royal Bank of Scotland Insurance could be moving on after reports that an offer has been made by Patrick Snowball, the former Norwich Union chief executive, working with a consortium that includes private equity groups BC Partners and Apollo Management.
However, FT.com says this hope could be dampened by concerns over the backers’ ability to finance the deal and the bank’s willingness to sell.
The market was also interested to read about the boardroom shake-up at Irish insurer Quinn and the details of the management buy-out at loss adjuster GAB Robins, revealed exclusively on insurancetimes.co.uk.
Two heavyweights in the broker market also crept into our top five: Towergate for its southern-region management reshuffle and consolidator Giles for its big contract win in the building sector.
Elsewhere, the ban of point-of-sale payment protection insurance was reported heavily on news sites, as was the four-year sentence handed to former AIG executive Christian Milton, who was jailed for his role in a reinsurance deal that prosecutors said misled AIG investors.
Visitors to insurancetimes.co.uk can now watch video highlights from the regional broker finale, hosted by Insurance Times and Norwich Union. Go to the “Focus on the regional broker” web page for all the views from the panel.
Also, take a look at Weblog on the “Latest issue” page for “Five things you didn’t know about …” Colin Morgan, chief executive of Quinn Insurance.
Online Top Five
- Snowball bids for RBSI
- Quinn Insurance restructures board
- GAB Robins on verge of MBO deal
- Towergate appoints four in the South
- Giles signs exclusive deal with 1800-strong NFB
Five things you didn't know about...Colin Morgan, Quinn
His favourite place...
I lived in London for 7 years and really enjoyed it. It is always a thrill to go back there and feel the buzz and excitement of one of the greatest cities in the world.
His impact on professional golf...
I have to take some credit for the meteoric rise of Rory McIlroy into the elite of world golf. I played with him in his first professional round in the Pro-Am at the Quinn Insurance British Masters in the Belfry in September 2007.
I live in a house surrounded by women - my wife Barbara and two daughters Grace and Ella - so it's good to get to work sometimes where I can exert a little bit of authority.
I have a keen interest in Gaelic Football which is the most popular sport in Ireland and, for those who don't know, is similar to Aussie Rules. In my younger days I was even known to play the game quite well - that's what my mother says anyway!
Quinn Insurance is one of the few insurance companies to have its head office in the countryside so I get to enjoy looking at green fields on the few days that it is not raining heavily in Ireland.
Colin Morgan is chief executive of Quinn Insurance.