Towergate, the UK-based intermediary, announced that interim CEO Scott Egan will be leaving the company to join the executive board of RSA Insurance Group plc as group chief financial officer*.
Egan was appointed interim CEO in February 2015 and will continue in this role until he takes up his new position at RSA, expected in the fourth quarter.
The company also confirms the appointment of Mark Mugge as Towergate’s group chief financial officer*, following the planned departure of the company’s interim CFO.
Mugge will continue with his responsibilities as chief operating officer, pending a new appointment. Mugge joined Towergate as group chief operating officer in February 2015. He has over 18 years’ experience in the insurance market. Previously, he was CFO of Arthur J Gallagher International (2011- 2015). He joined Gallagher in 2006 as a corporate controller. Mugge began his career at KPMG LLP as an auditor. Prior to Gallagher he held senior financial roles with AmerUS Group Co, GuideOne Insurance, and Grinnell Mutual Reinsurance Company.
John Tiner, chairman of Towergate, said: “I would like to thank Scott for his significant contribution to Towergate and the leading role he played in securing the group’s successful restructuring and recapitalisation. We wish Scott all the best in the next phase of his career. Towergate is now a stronger, refocused business with a more confident outlook and a depth of talent throughout the company. These attributes are key in serving our clients and position the company for success in the future.”
Commenting on Mugge’s appointment as group CFO, Tiner said he has extensive experience working in senior finance roles in the insurance sector and already has a strong familiarity with Towergate’s business, as he joined the company as chief operating officer in February.
* Subject to regulatory approval and notice period
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