Broker News – Page 237
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Hodges departure casts more doubt on success of Towergate strategy – Fitch
Rating agency could downgrade broker’s credit rating if cost savings and profits are lower than expected
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NewsManaging director Nick Pay leaves Kerry London
Parent company Kelliher Insurance Group takes on management responsibility
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Ex-Broker Network director makes industry return at Compass
Compass’s new UK sales director Scott Bennett will be responsible for its two networks Select and Westinsure
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BP Marsh profit rises 21% in first half
Venture capitalist sees ‘strong flow of new opportunities’ to invest in insurance market
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Ryan Direct Group to grow commercial business after buying AmTrust book
Chief executive Derek Coles lays out expansion plans following purchase and hire of five-strong underwriting team
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Willis in exclusive talks to buy majority stake in Miller
Willis’s wholesale book will move to Miller, while Miller’s existing retail and treaty reinsurance business will transfer to Willis
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Ryan Direct Group acquires AmTrust’s £3.5m SME book
Associated team of underwriters will also move across to RDG
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Bluefin buys Scottish broker RIG
Commercial and personal Broker is Bluefin’s fourth acquisition of 2014
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Aon’s e-trading expert Ian Summers joins Sequel
Summers becomes business development director at insurance software house
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New structure will improve Towergate's financials – exec chairman
Broker setting up decentralised steering committees
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Hunt for Towergate's next chief executive will take 'months'
Flotation not imminent - executive chairman Alastair Lyons
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NewsTowergate to disband executive committee in management overhaul
Internal memo from executive chairman Alastair Lyons reveals decentralised structure
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NewsMarket surprised at timing of Hodges exit but Towergate was 'impossible situation'
Brokers said Hodges’s job as Towergate chief executive was ‘one of the toughest jobs in broking’
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Towergate closes branch after resignations
Three staff resigned when Towergate transferred SME business to Manchester
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UK General to cut ties with 1,150 commercial brokers
But managing general agency says a deeper relationship with remaining 350 brokers will help business grow by 10% in three years
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Simply Business CFO Kevin Fleming leaves
Broker says it will announce Fleming’s replacement in due course
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NewsChristophe Bardet to leave Swinton
Replacement Gilles Normand will take up the new role in January 2015
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Government-ordered draft report on FCA life insurance gaffe complete
Senior FCA executives have been invited to scrutinise the findings before the final report is published
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One-in-ten SMEs have seen double digit rate increase - survey
Only a fifth of SMEs believe access to working capital will increase in the next year
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NewsGallagher to double UK retail and smash £2bn premium in three years – Janice Deakin
New chief executive talks people and placement




























