Ardonagh Group
Broking Supplement: Networks - Joined-up thinking
Networks may give a bigger voice to small and medium-sized brokers - but after 20 years is the model still valued by insurers?
Towergate CEO Hodges hails new "flexible debt structure" after £396m bond issue
Towergate has announced the pricing of the offering by its subsidiary, Towergate Finance, of floating rate senior secured notes due 2018 in an aggregate principal amount of £396m.
Towergate bolsters Northern broking teams
Towergate has recruited Willis’ corporate Northern region director to head up its own business for the region, as well as appointing a new managing director for its Newcastle operation.
Post magazine – 25 April 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
Moody’s downgrades Towergate after patchy 2012 financial results
Towergate’s financial results for 2012 have revealed vastly divergent performances among its four main insurance divisions, ranging from a 24% year-on-year drop in earnings in its network arm to a 17% rise in underwriting earnings.
Post Claims Club: London market should follow other sectors’ lead in implementing standards
The London market could benefit from the introduction of a road traffic accident portal-like electronic system with fixed timelines and costs consequences for delays in decision making, according to Martin Thomas, chief claims officer at Aon Risk…
Barnett & Barnett rebrand delayed by Equity sale
A rebranding exercise at Barnett & Barnett and NBJ was delayed by the sale of Equity Insurance Group to US private equity house Aquiline, according to managing director Neil Campling.
Private equity houses tipped as frontrunners in Giles sale
Giles backer Charterhouse will find a welcoming audience in private equity markets as it seeks to sell its stake in the broker.
Towergate’s B rating affirmed by Fitch
Fitch Rating has affirmed Towergate’s B rating and revised its outlook to stable from negative.
Penny Black's insurance week
Penny is ashamed to report that, during an LV-hosted pub quiz last week, she was coerced into displaying all the attributes of a sore loser.
Towergate hit with Moody's downgrade
Moody's has cited "significant" levels of debt and limited earnings as the reasons behind its downgrade of Towergate, following publication of the consolidator's results.
Hodges upbeat about network future
Towergate chief executive Mark Hodges said he is confident that the firm’s network division can create an “incredible service offering for brokers” despite a 24% drop in its operating earnings in 2012 to £10m (2011: £13.1m).
Towergate shrinks full year losses to £6m
Towergate has improved its figures for the year ending 31 December, declaring a pre-tax loss of £6.1m, despite worsening performance from its network division.
Banks’ PPI problem sees insurance complaints on the rise once again
Consumer complaints about payment protection insurance are continuing to rise, with the total number of complaints in the second half of 2012 increasing by 5%, compared with the previous six months, to 2.17 million.
CCV expands with two acquisitions
Cullum Capital Ventures, part of the Towergate Insurance Group, has acquired Morgan Brokers and its subsidiary company M Wood Insurance Services, as well as Newbold Barwick Associates.
Broker Network adds two to insurer relations team
Towergate-owned Broker Network and Countrywide has grown its insurer relations team with the addition of Axa’s Dave Wilkins alongside an internal promotion.
Lorega extends Broker Network deal
Broker Network and Countrywide have extended their relationship with Lorega through the launch of a household loss recovery insurance product.
Leader: A fresh start
So, spring has sprung; daffodils are in bloom, chicks and lambs are being born and even the insurance industry is seeing some stirrings of green shoots – even if the weather doesn’t quite agree.
Brokers concerned over Aviva future as Deakin departs to join AJ Gallagher
Brokers have counselled Aviva against introducing “wholesale change” to its broking distribution channel following the resignation of stalwart Janice Deakin after 13 years at the insurer.
Towergate and Gallagher Heath sign up to Arc Legal trading platform
The retail marine division of Towergate and Gallagher Heath has signed up to use a new trading platform for commercial legal expenses launched by Arc Legal.
Davies and GAB Robins – a tale of two loss adjusters: The Claims Club monthly missive
It was somewhat inevitable that two claims firms inextricably linked by the tittle-tattle in the loss adjusting village should make important announcements that will shape their futures.
Bluefin names ex-Towergate boss Philip as Organ successor
Bluefin has appointed Tim Philip as interim chief financial officer, reporting directly to chief executive Stuart Reid.
Davies names Towergate M&A boss as chief exec
Davies Group has recruited Towergate’s group mergers & acquisitions director Dan Saulter to serve as its new chief executive, Post can reveal.
Towergate launches armed forces discount
UK armed forces members and veterans are to be offered discounted insurance products under a new partnership between Towergate and the Defence Discount Service.