Open GI buys PowerPlace
Open GI has confirmed the purchase of PowerPlace from parent company Towergate for an undisclosed sum.
Peter Cullum, a major shareholder in Towergate, is also the majority shareholder in Open GI.
When asked if Mr Cullum had been involved in the transaction a spokesperson for Towergate replied: "Given the natural conflict of interest Peter was not involved in the discussions regarding PowerPlace."
Open GI stated that all 48 staff currently employed by PowerPlace will move across, including CEO Nick Giddings.
In turn Towergate revealed that it has signed a three-year deal with Open GI "ensuring the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Sporting Sponsor: Birkdale Insurance Group and Southport FC
Insurance Age caught up with Birkdale Insurance Group to find out more about its main shirt sponsorship for Southport FC.
Underinsurance concerns remain high despite slight easing – Aviva research
Aviva’s latest Broker Barometer has revealed 68% of brokers believe clients may be underinsured which while still high has eased slightly.
Applied’s UK Epic withdrawal a “sad day” for brokers
Applied Systems pulling its Epic offering from the UK underlines how competitive the market is but is sad news for brokers and staff, according to experts.
SRG names ex-Lockton and Marsh boss Nimmo as first UK CEO
Specialist Risk Group has recruited Neil Nimmo as its first CEO – UK, effective immediately.
Staysure moves onto aggregators
Staysure Group is set to launch Avanti Go across multiple price comparison websites, marking the first time the group has made one of its travel insurance brands available via an aggregator.
Insurance United Against Dementia names Marsh UK CEO Lay as new chair
Insurance United Against Dementia has appointed Chris Lay, CEO of Marsh McLennan UK, as its new campaign chair.
CEO calls for SMEs to be at “heart” of growth plans ahead of Spending Review
The Chancellor’s Spending Review this afternoon will be a “defining moment” for Britain’s 5.5m small businesses, according to the boss of a top 20 insurance broker.
Brown & Brown announces major acquisition
Brown & Brown has entered into an agreement to acquire RSC Topco, Inc, the holding company for Accession, the ninth largest privately held insurance brokerage in the United States, for $9.83bn (£7.3bn).