Towergate announces Nick Houghton’s plans

Towergate Insurance has announced that former Broker Network and Countrywide managing director Nick Houghton wants to return to independent broking after resigning last week.

Houghton has plans to join a current Broker Network member, Insurance Times understands.

Towergate Network Division chief executive Tim Johnson will take over interim responsibility for Houghton’s role.

Johnson said: “Nick has expressed his intention to return to broking and to run an independent broking business. He has spent the last three years working closely with our members and subsequently leaves us armed with unbeatable knowledge of broking in the UK – we wish him well in his new career.

“We now enter an exciting phase in the lifecycle of the network as we look to improve our product range, develop markets and build upon the work we have been doing to strengthen the business in the long term.

“With regulation remaining an increasing burden and commercial SME broking continuing to be fiercely competitive, we remain confident that our market-leading proposition represents an increasingly essential service within UK commercial broking.”