UK brokers call for FSA talks – Insurance News Now – 2 February 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories, including how some UK brokers are calling for a meeting with the FSA to discuss concerns over the increasing level of intervention in compliance issues by the regulator.
The move came as the UK’s largest independent broker, consolidator Towergate, secured the financial backing of Advent International in exchange for a 45% stake in the business.
In other news, the FSA seeks more ‘intrusive’ resilience benchmarking. Issues that have been outlined for consideration include supply chain dependencies, cyber threats, Olympics preparations, and telecoms resilience; in a bid to get its growth plans back on track, Romero Insurance Brokers has expanded its Yorkshire foothold with the opening of its second office in Halifax; and Jelf chief executive Alex Alway is targeting “aggressive organic growth” after its 2010 group annual results revealed the firm had reduced its debt and turned a 2009 loss into profit.
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