Delayed bond issuance prompts action
Rating agency Moody's has withdrawn the B1 senior secured and B3 senior unsecured debt ratings on broking group Towergate Finance bonds because they have yet to be issued.
The agency added, however, that it understood Towergate will still issue the notes in due course.
Towergate revealed in May that it had delayed the £655m bond issue because of market volatility.
Towergate's B2 corporate family rating, and the associated negative outlook, are unaffected by the rating action.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
