Hastings boss censured by Lloyd's over detrimental conduct
Neil Utley, chairman of Hastings Direct, has admitted to charges of detrimental conduct during his time at Equity Red Star.
Mr Utley stepped down as chief executive of IAG UK, Equity’s parent company, by "mutual consent" in July 2010.
He has been censured by a Lloyd’s enforcement tribunal over his alleged failure to take reasonable steps to ensure that there were sufficient systems and controls, including the maintenance of an adequate standard of documentation, in relation to certain aspects of its reserving processes.
He was also censured over an alleged failure to take reasonable steps to ensure that the board was
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
US fronter Hadron set to onboard first UK MGA in Q2
Altamont-backed hybrid insurer Hadron is aiming to change the reputation of fronters to businesses that priortise sensible and measured underwriting rather than just scale.
Biba Conference 2024 countdown: CFC’s Pat Brice
As we continue our Biba Conference series, Pat Brice, distribution director at CFC, promises socks on its stand, and reflects on the post-pandemic buzz of the event, encouraging first-timers to step back and absorb their surroundings.
Ex-RSA leader Mandy Hunt joins Clear as MGA MD
Clear Group has appointed Mandy Hunt as managing director of its managing general agent business.
Bspoke sets marker with £5.17m turnover in inaugural accounts
Bspoke Insurance Group has forecast returning to profit after achieving £5.17m of turnover but post-tax losses in its first five months of trading since being formed out of UK General and Precision Partnership.
Shire Insurance returns to Ecclesiastical for vet schemes
Veterinary sector specialist broker Shire Insurance has teamed up again with Ecclesiastical on all schemes business after a two-year hiatus.
Covéa cuts losses but underwriting deficit grows
Covéa Insurance has posted an £87.3m loss after tax for last year with underwriting losses across commercial, personal and speciality lines.
Allianz hails “milestone” with updated trade credit offering
Allianz Trade UK has refreshed its trade credit insurance product suite.
Rokstone acquires box at Lloyd’s
Managing general agent Rokstone has taken box 355 located on gallery three at Lloyd’s, in a three year deal.
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- RSA confirms trading structure ahead of NIG integration
- In Depth: Cyber risk and AI – friend or foe?