Insurance News

- New facility for solicitors professional indemnity insurance offered to Professional Insurance Agents Ltd.

- Aviva share price hits the lowest point in 3 years with its share price falling from 295p to 264p at close on Friday.

- JLT beat their rivals Aon, Marsh and Willis by getting organic growth 7.3%

-Is it time to spilt up the ABI, into two separate areas, life insurance and general insurance although people do not always see the insurance industry as different clearly life and general insurances are like chalk and cheese.

- Professional Insurance Agents Ltd the online multiquote and buy brokers CEO Graham Hearsey is offering its system to all appointed representatives that join their new net work. The company will be launching a new brand name for appointed representatives and will allow each member to negotiate their own deal subject to turnover and GWP brought in to the new network.

Share Prices Have Sharp Fall

The worlds stock exchanges faced massive drops mainly over the Euro crisis and ahead of the EU meeting no one country seemed to escape the down ward fall in share prices with Italy, Spain, London, USA, Germany all feeling the concerns by investors over Greece's future in the Euro and very little hope a Greek recovery.

With the Greek Prime Minister Lucas Papademos slating that his government may be making preparations to leave the Euro.

Chancellor Angela Merkel said a proposed scheme of a pan-European bond favoured by Francois Hollande would not be possible until other nations improved their finances.

The UK cannot escape the Euro crisis and with significant trading in Eurozone small and large businesses could be effected.

CEO Graham Hearsey of Professional Insurance Agents Ltd said we have been trading in Ireland Netherlands and Italy over the last few years and this latest movement in the markets will have an impact on our business.

Former Police Officers & Scotland Yard Detective Arrested

3 former officers and a Scotland yard detective have been arrested being held with possible charges of corruption and bribery.

The investigation revolves around a Nigerian Fraudster James Ibori who stole millions from his homeland.

Egyptians to Have First Free Presidential Elections

After the spring uprising the Egyptians people are going to the polling stations. Some fifty million people in Egypt are able to vote and queues are already started at many polling stations.

The candidates and leaders most likely to gain votes are AMR Moussa head of Arab league, Mohammed Mursi Muslim brotherhood, Abdel Moneim Aboul Fotouh, an independent Islamic candidate Ahmed Shafiq, who was briefly prime minister during 2011 riots.

The Business Secretary Vince Cable says Beecroft Report is Wrong

David Cameron commissioned a report to call for shorter periods of consultation over redundancies and to make it easier for companies and employers to dismiss staff  who are not doing their jobs correctly.

The business secretary Vince Cable said that the 'Beecroft' report was the "wrong approach" and the government should not be able to 'scare the wits' out of people.

There are several proposals with the report to help business cut through the red tape they currently have to face.

Facebook Shares at $38.92

The facebook share at $38 a share after a delay on Friday slid 12% immediately at the opening bell on wall street.

Robert Greifeld said he was humbly embarrassed by the glitch by a technical problems on the nasdaq stock exchange.

There was talk that the facebook advisors set the price too high.

Insurance News

- Brokers worried about regulation BIBA said that this has become brokers main concerns most of companies surveyed wanted reform on the FSCS.

- Sky and Groupama agree a new deal offering car insurance which could bring in £1.5 million in the first year of trading.

- Professional Insurance Agents Ltd has been in talks with several large brokers who need software support for their Quote and Buy SME business mainly in financial lines such as Professional Indemnity Insurance and Directors and Officers covers.

- Aviva announces a small drop in profits from over the same period last year.