Neil Utley
Pen restructures; Percayso raises £2.7m; Axa’s Foley successor
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Goldman Sachs in Hastings stake talks
A Goldman Sachs-owned private equity fund is in exclusive talks over a minority shareholding in Hastings, according to reports.
Equity pair hit with Lloyd’s sanctions
Equity Red Star’s former active underwriter and finance director have been hit with Lloyd’s costs and barred from holding Lloyd’s director positions.
Utley set to press on with Hastings IPO despite Lloyd’s Equity settlement
The outcome of a Lloyd’s investigation into former Equity Red Star chief executive Neil Utley is unlikely to affect plans to float at Hastings where he is currently chairman, according to market observers.
Utley settles on Lloyd’s Equity charges
Former Equity chief executive Neil Utley has been barred from applying for Lloyd's director positions for two years under terms agreed in a settlement on charges of detrimental conduct.
Aquiline boosts Lloyd's foothold with cut-price acquisition of Equity Red Star
Aquiline Capital Partners' acquisition of Equity Red Star for £87m – a far cry from the £570m IAG paid for Equity Insurance Group in 2006 – marks the New York-based firm's latest foray into the Lloyd's market.
Hastings CEO Fitzmaurice replaced by NBNK boss
Hastings Insurance Group has appointed Gary Hoffman as group chief executive with effect from 1 November 2012.
Hastings stands by Utley as he prepares to face disciplinary board
Hastings Direct has vowed to stand by chairman Neil Utley, pictured, as he prepares to face the Lloyd’s disciplinary board later this month, as part of an investigation into Equity Red Star.
Lloyd’s censures Equity over reserves
The Enforcement Board of Lloyd’s has censured motor insurer Equity and demanded it pay £95 000 costs over its under-reserving of claims, but has spared the syndicate an expected £1m fine.
End of Year Quiz 2011: Faces from the past
It is that time of the year when the Post team give their desks a sort out and tidy.
Lloyd's pursues own probe into Equity syndicate losses
Lloyd's is investigating Equity syndicate's reserve deterioration, Post has learnt, and a Names protest group says the outcome should prove influential to its own campaign over Equity's losses.
Penny Black's insurance week
Penny thought she got invited to all the best gigs, but clearly her invitation to Markerstudy's 10th anniversary bash at The Savoy was lost in the post.
Broker IPOs: Who dares wins
Broker IPOs keep the rumour mill active but very few actually occur. Rachel Gordon finds out why this is and looks at which companies are most likely to pursue the public route.
Hastings names retail boss
Hastings Direct has appointed Tobias van der Meer as the new managing director of Hastings Retail.
Penny Black's insurance week
Given his aspirations as a pop impresario, Penny was interested to see former IAG UK boss and Hastings investor Neil Utley enter the annual Rich List chart above the likes of George Michael, Robbie Williams and Phil Collins.
Equity expansion still on track despite 185 jobs under threat
Equity Insurance Group has insisted its branch network and plans for regional expansion are safe, despite putting 185 jobs within its underwriting and distribution operations at risk.
Penny Black's insurance week
Watch out Simon Cowell and congratulations to Hastings boss and music mogul in the making Neil Utley, whose new record label has netted singer Charlie Simpson as its first signing.
News analysis - Provident Insurance: signed, sealed, delivered
The ink has just dried on the deal that sees ownership of Provident move from troubled US firm Ally Financial to French company Covea. Daniel Dunkley reports on what the future holds for the motor insurer.
Penny Black’s insurance week
Penny was fortunate to be sunning herself in southern Spain earlier this week. With only a mild case of sunburn to attend to, she was shocked to hear one of her insurer pals had experienced a rather more unfortunate injury on his holiday.
Interview - Ian Foy: Return journey
After an antipodean adventure lasting 10 years, Insurance Australia Group's Ian Foy is back in Britain as UK CEO. He tells Jonathan Swift about the challenges he faces to turnaround the business and why IAG is here to stay.
IAG UK acquires second commercial broker with NBJ swoop
IAG UK-owned broker Barnett & Barnett has almost doubled its size to £50m gross written premium, with a move for a controlling stake in Bromley-based commercial and personal lines specialist NBJ.