Board change at Lloyd's
Hiscox chief executive, Bronek Masojada, was replaced as deputy chairman of Lloyd's by Graham White, executive director of Argenta Private Capital. Masojada's term in office had come to an end. Lord Levene was re-appointed as chairman of Lloyd's. Ewen Gilmour, chief executive of Chaucer Syndicates, was re-appointed as deputy chairman of Lloyd's; and Bill Knight was re-appointed as deputy chairman of the Council.
EC to reveal findings
The European Commission (EC) is set to reveal more detail of its inquiry into anti-competitive practices in the business insurance sector at a public hearing in Brussels tomorrow. Repres-entatives from the UK insurance industry are expected to attended.
Ex-Lord Mayor joins Marsh
A former Lord Mayor of London, Sir David Brewer, has joined the UK arm of Marsh in the newly-created role of non-executive vice chairman.
Free cover fears
Free period policies have come under fire from insurance network CETA. It said that household or mortgage policies offering customers free periods could be in breach of Treating Customers Fairly principles. Brokers needed to be careful about how they sell such policies, to avoid complaints of mis-selling and FSA action, it said.
Smart & Cook profit jump
Smart & Cook reported a 44% jump in revenues for the year ended 30 April 2006. The broker said revenues increased to £30m from £21m a year earlier. Operating profit before goodwill amortisation increased 124% to £4.4m from £1.9m.
