A retired insurance broker, who lost €500,000 in a property bond deal with Anglo Irish Assurance Co in Jan 2006, has lost a High Court bid to force the Irish Bank Resolution Corporation (IBRC), formerly Anglo, to pay it back to him.

Coyle Hamilton has announced it has reached agreement in principle to sell a majority shareholding to global insurance broker Willis (NYSE:WSH) and to sell the remaining shareholding over the next several years.

INSURANCE costs are set to fall by up to 25% this year due to increased competition and Government initiatives to reduce the cost of claims, according to a leading insurance and risk management consultancy.