Towergate Underwriting chief operating officer to head up acquisition vehicle

Michael Rea, chief operating officer at Towergate Underwriting, has been appointed chief executive of CCV.

Rea will head up the acquisition vehicle on September 1.

Rea joined Towergate from NIG last September, and has been working with underwriting chief executive Clive Nathan.

CCV will also be moving its Headquarters to County Gate in Maidstone, having outgrown their Sevenoaks base, and this will give it room for significant expansion as they take advantage of the acquisition opportunities created by the current market.

Chairman Peter Cullum, said: “I am delighted to announce Michael’s appointment at such an exciting time for CCV. In the 12 months that Michael has worked for Towergate he demonstrated he has the leadership skills to take CCV on to the next growth stage which will be focused on further acquisitions, and we are poised to complete several new acquisitions by the end of July.

"Market commentators have signalled a serious decline in M&A activity, but CCV intends to buck that trend as we see many opportunities for regional expansion and our acquisition pipeline remains as healthy as ever”.

Michael Rea said: “This is a great opportunity to work with Peter as CCV sets out on its next stage of growth. I have no doubt CCV will soon be in the Top 10 UK Broker list as we continue its success story."