Ardonagh Group
Towergate boss Nathan unconcerned by plummeting Arista profits
Towergate Underwriting chief executive Clive Nathan has downplayed the implications of falling profits at newly acquired Arista by claiming the slump relates to the managing general agent’s decision to re-underwrite its motor book.
Career file - Gary Duggan: Towergate network boss to take Paymentshield reins
Broker Network chief executive Gary Duggan is to leave his post at the Towergate division to take over from departing Paymentshield CEO Tim Johnson. The change of leadership will come into effect on 30 June following a handover period.
Bluefin hires Towergate's Watts for regional role
Bluefin has appointed Towergate's Paul Watts as Stockport branch director, corporate division.
Broker Network boss Duggan to take over from Johnson at Paymentshield
Paymentshield chief executive Tim Johnson is leaving the Towergate division and will be replaced by Broker Network CEO Gary Duggan.
Towergate NED Homer to chair energy consultancy
Former Towergate chief executive Andy Homer has been named chairman of energy consultancy Utility Aid.
Clock could be ticking for Towergate boss Hodges after third loss in a row
Analysts suggest private equity backer Advent may be seeking an exit
Towergate tipped to benefit from pause in Gallagher acquisition spree
Towergate may benefit from a pause in UK retail acquisitions at Arthur J Gallagher, according to Imas managing partner Olly Laughton-Scott.
Broker Network concludes development team expansion with twin hire
Broker Network has hired Ian Wainwright as head of broker development for the network’s premier proposition and Angus Montgomery as broker development manager for the advantage proposition.
Towergate in FCA talks over mis-selling
Towergate is in discussions with the Financial Conduct Authority over issues around the sale and advice of two Towergate Financial products.
Hodges defends merits of network model following 2013 earnings slump
Towergate boss Mark Hodges has denied appetite for networks is dwindling and has tipped his own network division to bounce back this year in the wake of an almost 50% decline in earnings in 2013.
Towergate earnings slide 7% in 2013 as pre-tax losses hit £41m
Towergate saw its operating earnings drop 7% to £144.9m last year (2012: £156.2m) as profit within the consolidator’s Broker Network division plummeted 42%, with underwriting, Paymentshield and insurance brokers all contributing to the fall.
BIA Countdown: Q&A with 2012’s achievement award winner Peter Cullum
Since their inception, the British Insurance Awards have become the unrivalled badge of excellence for the insurance sector, raising standards across the industry through their showcasing of best‑of‑breed performance and innovation.
Interview: David Margrett: Bring it on
Welcoming the FCA’s hands-on approach to regulation as a boon to his firm’s ambitions, Global Risk Partners CEO David Margrett tells Post why he has such confidence in his consolidation goals
Market Moves - 24 April/1 May 2014
Find out who has moved where in the industry this week.
Arista transition to cause 'minimal disruption', vows Nathan
Towergate Underwriting chief executive Clive Nathan has moved to assuage potential concerns the acquisition of Arista will prove disruptive to the commercial managing general agent’s regional trading sites.
Nick Watson to lead Arista following acquisition by Towergate
Towergate has snapped up Arista in a deal that will see the consolidator’s change director Nick Watson appointed chief executive of the newly acquired managing general agent.
Ex-Zurich claims boss Cawley resurfaces at Towergate
Consolidator unveils string of hires amid underwriting restructure
Towergate believed to be close to Arista acquisition
Towergate is believed to be closing in on a deal to acquire managing general agent Arista.
GRP close to second acquisition as Margrett boosts management team
Global Risk Partners is preparing to unveil its second major acquisition having bolstered its central management team with senior recruits from Towergate and KPMG.
Towergate claims boss Gifford resigns
Towergate’s long-serving claims director is to leave the broker at the end of the month after resigning, Post can reveal.
Hodges to build on 'fantastic track record' with future acquisitions
Towergate group chief executive Mark Hodges remains confident in his firm’s ability to acquire businesses in the wake of Arthur J Gallagher snapping up brokers Oval and Giles.
Towergate to axe 750 branch jobs
Towergate is to cut 750 roles across its branch network as part of a process to transfer business to a new Manchester call centre.
Market Moves - 10 April 2014
Who has moved where in the insurance industry this week.