Moody’s downgrades Towergate after patchy 2012 financial results
Towergate’s financial results for 2012 have revealed vastly divergent performances among its four main insurance divisions, ranging from a 24% year-on-year drop in earnings in its network arm to a 17% rise in underwriting earnings.
Speaking after his first full year as chief executive of the firm, Mark Hodges said the conclusion of the network’s relationship with Aviva last June, was a “contributory factor” in its falling income
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@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.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@postonline.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@postonline.co.uk
More on Broker
Insurance sector reponds to 2026 Budget
John Healey has delivered his first Budget as Chancellor of the Exchequer today (28 October), bringing in a range of changes for SMEs and UK businesses, but notably failed to act on Insurance Premium Tax rates.
Lloyds Bank picks Superscript for SME insurance
Lloyds Banking Group has selected digital insurance broker Superscript to provide business insurance to its small business customers.
Ardonagh merges global MGA businesses to create $3bn platform Orvia
Ardonagh Group is to merge all of its international managing general agent businesses under the Orvia Underwriting brand creating a platform that controls $3bn (£2.25bn) of gross written premium.
Diary of an Insurer: Surewise’s Stuart Bensusan
Stuart Bensusan, business development director at Surewise, on early starts, wearing every departmental hat going and the coronation chicken sandwich he hasn’t deviated from in 10 years.
Why the future of broking isn’t just about placing insurance
View from the top: Tom Danson, managing director of corporate and health & employee benefits at Brown & Brown, argues that brokers must move beyond insurance product silos and build their advice around how businesses actually experience risk.
Ghost broking is evolving and so is the IFB's response
Trade Voice: As ghost brokers scale increasingly sophisticated scams, Ursula Jallow, director of the Insurance Fraud Bureau, reveals how the insurance industry is aiming to stay ahead of the threat.
Howden's pet launch; Brown and Brown's grad programme; Flood Re's chair
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Biba chair calls on insurers to commit to signposting
Caroline Barr, chair of the British Insurance Brokers’ Association, has called on insurers to commit to signposting customers to specialist providers when the market fails to meet their needs.