Hodges "feeling positive" despite Towergate's £41m loss
Consolidator chief says 2015 will see a turnaround in the business.
Mark Hodges, Towergate CEO, has stated that he is “feeling really positive about where the business is”, following the publication of the company’s 2013 results.
They revealed a £41m loss, with tumbling income in both the Paymentshield and network divisions.
Hodges commented: “Towergate is a strong business. Operating earning is a headline that you would prefer to be different but we are growing our underwriting business and our direct business.”
He pointed out that Towergate had invested a lot
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
Blog: Brokers calm about RSA brand going as ultimately service outscores sentiment
Brokers would be relaxed if the RSA brand fell by the wayside, and have said that service remains a much more important factor in terms of their relationship with parent Intact going forward.
Howden opens in Canterbury
Howden Insurance has opened in Canterbury, adding to its network of over 200 branches.
Second quarter of motor premium falls in a row – ABI
The average motor insurance premium fell by 2% in July to September to £612, according to the latest data from the Association of British Insurers, the second consecutive quarterly drop.
SRG adds Essex-based business as latest buy
Specialist Risk Group has acquired Essex-based One Claim Limited.
BMS unveils wine producers insurance Bacchus
BMS Group has launched BMS Bacchus, a stock throughput solution designed to protect wine across all stages of production, storage and transit, from harvested grapes to finished product.
Brown & Brown’s Bridge integrates wholesale broker brands for international launch
Bridge Specialty Group, Brown & Brown’s wholesale broker segment, is to bring its London-based businesses Lonmar Global Risks, Decus Insurance Brokers and BdB under Bridge Specialty International.
FCA bans broker and issues £1.1m fine for misusing insurer funds
Leigh Mackey, formerly sole director of closed broker Inspire Insurance Services, has been banned by the Financial Conduct Authority and fined £1.1m after using insurer funds to support the firm’s operating costs and pay for personal living expenses.
Hardie steps down as Jensten CEO and Organ promoted
Alistair Hardie has stepped down from Jensten Group CEO and Rob Organ promoted to the role with immediate effect.