The lawsuit filed by Arthur J. Gallagher against the former CEO of its international brokerage operation, David Ross, who defected to Towergate earlier in the year – has been settled for a payment of £20 million ($30.9 million). Gallagher filed …
A new report from UK-based financial marketing and consulting firm Finaccord concludes that “affinity schemes for commercial lines insurance in the UK are on the rise as brokers and underwriters strive to grow market share and profitability in a tough …
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 …
RSA Insurance Group plc (RSA) announced the appointment of Scott Egan as an executive director and group chief financial officer of the company. He is expected to join the company during the fourth quarter of this year. He replaces Richard …
Towergate Insurance reported first quarter income of £86 million ($134 million), down 8 percent from £93 million ($145 million) reported for the same period in 2014 – with its performance adversely affected by the group’s financial restructuring and change program. …
Towergate is creating a new retail broking division led by Janice Deakin, who will join the group as retail broking director on August 12, subject to regulatory approval. This division will encompass all the Towergate Insurance retail broking businesses, Towergate …
Towergate Finance plc said it reached an agreement with creditors to restructure more than 1 billion pounds ($1.5 billion) of debt in exchange for control of the company. The deal will cut the insurance broker’s net obligations by more than …
Towergate Finance Plc’s creditors are offering to cancel 715 million pounds ($1 billion) of debt in exchange for control of Europe’s largest insurance broker. The company’s senior secured creditors also propose writing off the accrued interest, according to a statement …
