Seven left out of team of 12 following resignations

Five members of the Towergate Underwriting professional indemnity team of 12, including its managing director Peter Newson, have recently resigned, Insurance Times has learned.

The other four are development underwriting manager Mark Richardson, operations and compliance manager Margaret Morgan, underwriter Lee Vine and assistant underwriter Scott Gorman.

Towergate was unavailable to comment on the resignations.

The departures are the latest in a string of senior manager exits from Towergate Underwriting.

In June, Fusion managing director Nick Wright and underwriting director Stewart Gardiner handed in their notice, with several underwriters and regional managers following.

In total 22 staff from Fusion have quit Towergate to join Arthur J Gallagher within two months.

The departures came amid the restructuring of Towergate’s underwriting division into bespoke and volume units, with Fusion, which had operated with relative autonomy, coming under greater group control.