Mark Hodges
RSA sale to Intact and Tryg completes
RSA has been bought by Canadian insurer Intact and Danish provider Tryg as scheduled for £7.2bn in cash with CEO Stephen Hester departing.
Quiz of the week - 17 April 2015
Test your knowledge of this week's insurance news stories with Post's quiz.
Hodges appointed British Gas MD
Former Towergate CEO Mark Hodges has been appointed managing director of British Gas with a base salary of £625,000.
Towergate tipped for future sale despite debt-for-equity deal
There is “no question” Towergate will be up for sale once again in the coming years, according to market insiders, who believe the swift appointment of a CEO is paramount following this week’s debt-for-equity deal.
Fitch warns of Towergate downgrade if cost-saving measures fail
Fitch Ratings has cast doubt over Towergate's ability to execute its change programme in the wake of group CEO Mark Hodges resigning.
Fusion expansion leaves 50 roles at risk
Towergate’s decision to expand its Fusion brand across its bespoke underwriting portfolio has left approximately 50 roles at risk of redundancy.
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.
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.
Towergate acquires four regional broking operations
Towergate chief executive Mark Hodges has heralded continued “acquisition momentum” in 2014 after agreeing deals to take on four regional broking businesses.
Interview: Dan Saulter: Hitting the ground running
When Dan Saulter was announced as chief executive at Davies, many in the market were surprised. He explains why he is the right man for the job and why the recent swathe of storms held no fears for him.
RSA weighs up fund-raising options as it seeks to avoid rating downgrade
Insurer facing potential £35m fine and may need to raise up to £300m in capital.
Towergate completes triple acquisition
Towergate has inked deals to acquire Canworth Commercial, Irvine Insurance Services and John Fairley Insurance.
Towergate to re-focus on M&A following sale of 'non-core' underwriting business
Towergate chief executive Mark Hodges has insisted that acquisitions remain central to his firm’s growth strategy, despite the £9.25m sale of Towergate Underwriting’s commercial property business to Global Risk Partners.
Towergate network division reports membership surge
Towergate-owned Broker Network and Countrywide have boosted membership by signing up nine broking businesses over the past two months.
Towergate hit by £10m H1 loss after loan fee write-off
Towergate has reported a pre-tax loss of £9.9m for the first six months of 2013, in spite of boosted income and flat operating earnings.
CCV completes three regional acquisitions
Callum Capital Ventures has acquired Underwood Insurance Services; Dale Insurance Services and Brighton Insurance (Brokers) Group, bringing the total number made by its parent firm Towergate, to 11 since the start of 2013.
View from the Top: Mark Hodges Group, Towergate Insurance
Biba 2013 leaves brokers feeling positive
Saulter exit will not disrupt Towergate M&A activity, vows Hodges
The departure of Towergate mergers and acquisitions director Dan Saulter will not dent the consolidator’s acquisition strategy in the year ahead, according to chief executive Mark Hodges.
Towergate subsidiary CCV snaps up Norwich-based broker
Towergate-owned Cullum Capital Ventures has acquired Waveney Insurance Brokers and its two subsidiary companies Waveney Insurance Brokers Commercial and Waveney Group Schemes.