Power Place

Ex-Power Place boss joins Axa as 114 made redundant

The former Power Place chief executive Matthew Reed has been reunited with his former boss, Amanda Blanc, after being appointed managing director of intermediary and direct at Axa Commercial, at the same time as 114 staff members are made redundant.

Power Place chief executive steps down

Matthew Reed has stepped down as Power Place chief executive — just four days after private equity firm Advent took a 45% stake in its parent company, Towergate earlier this month.

Towergate director Armitage joins Barbon

Mark Armitage has stepped down from his role as operations director at Towergate Underwriting to take over as chief operating officer of the property & commercial division at Barbon Insurance Group.

Editor's comment: Commercially viable

The news that Iprism has secured private equity backing, which effectively values the business at £50m, is further evidence that the future of online commercial trading has finally reached its 'tipping point'.

Post powerlist 2010: The influential crowd

Over the past 12 months the UK insurance industry has faced the global recession head on, taken the change of government in its stride and has shown that it is ready to face oncoming regulation in the form of Solvency II. Below we name the major players…

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