PB Week: Bridget, Peter and Martin
There has been plenty of late August and early September activity in the insurance market (and of course the football transfer market) and many will be returning from holiday catching up with the news, some shaking their heads in disbelief, writes Andrew Tjaardstra, editor of Professional Broking , the management magazine for insurance brokers.
RSA
Bridget McIntyre’s departure as chief executive of RSA after three years has been the biggest surprise of the last week. A spokesman at RSA said: “The decision was agreed between the board and Bridget and she wants to spend more time with her family in Suffolk.” Adrian Brown, chief operating officer since 2006, has taken over as chief executive of RSA, and McIntyre will remain on the board until the end of the year. Meanwhile, RSA’s share price has risen to over 160 pence in recent days and has been rising with bid speculation growing. Zurich and Allianz are in the frame. An RSA spokesman predictably replied “We do not comment on market speculation.”
Quick fit
Martin Oliver managing director of Kwik Fit is set to takeover at Barbon Insurance Services, formerly the insurance arm of Erinaceous Insurance Services. He told sister title Post that he had a “seven year itch”. Interim executive chairman Leslie Goodman joked that Oliver would be a “quick fit”, not bad for insurance Leslie.
Cullum and Norwich City
Peter Cullum is back in the frame to purchase Norwich City after two board members quit leaving over a million pound black hole in their finances. Given the influx of billionaire owners meddling in our beautfiul game, a source close to Mr Cullum said that if any deal went ahead, that he wouldn’t want to get involved in the day to day running and would appoint an expert to run that side of the business. Watch this space.
Here comes winter
As the summer officially finishes – what summer? - luckily I have a holiday to Spain planned for next week so I might still be able to bask in a couple of days of unadulterated sunshine. Fingers crossed.
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