Broking Break: Your top five of the week
From networks to new offices, FSCS fees and the FCA it has been a busy week for broker news.
5) Brokers' FSCS levy comes in at £8m
The Financial Services Compensation Scheme (FSCS) has confirmed that brokers will pay a levy of £8m for the year 2016/17.
The figure is a marked drop on the £19m predicted in the indicative levy set out this January when the FSCS published its budget plans and opened a consultation. However, it reverses the position of 2015/16 when the sector paid zero towards the FSCS.
4) Global Risk Partners backs Lonmar MBO
Global Risk Partners has agreed
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Partners& launches apprenticeship scheme
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JMG seals second deal of the week
JMG Group has bought Hamilton Robertson Insurance Brokers, adding £15m of gross written premium to the business.
Ardonagh strikes A$2.3bn PSC deal
Ardonagh has signed up to buy Australian-headquartered PSC Insurance Group including its Top 100 UK broker.
Biba reduces burden for board members after agreeing special resolution
The British Insurance Brokers’ Association (Biba) has recruited some new people to its main board and agreed to changes to make the commitment of those involved with all of its committees less onerous, including fewer meetings.
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