Towergate network deal
Towergate’s £95m offer for Broker Network was declared unconditional. The network said that cancellation of its stock exchange listing would take place on 23 January.
Marsh Scotland chairman
Marsh has appointed its UK chief operating officer, John Nicholson, to be chairman of its Scottish operations. Nicholson will have overall responsibility for Marsh’s offices in Aberdeen, Edinburgh and Glasgow.
Ace allays sub-prime fears
Ace Group has attempted to reassure investors over its exposure to sub-prime investments. In an earnings guidance, the Bermuda insurance giant said it had reduced its sub-prime asset backed investments by almost half in the past two months. Its sub-prime asset backed holdings were $137m compared to $257m reported on 30 September 2007.
SBJ chairman to retire
Jim Clark, currently chairman and chief executive of SBJ, is to retire at his request from the boards of SBJ Group and SBJ UK. Howard Steeples, currently chairman and chief executive of SBJ UK, will take on both roles..