Towergate agrees new covenants with banks
Andy Homer, chief executive of the Towergate Partnership, has said the broker has agreed new debt covenants with both Lloyds TSB and HBOS until the end of 2009. He did not give further details.
Mr Homer also said he expected its sister company Paymentshield to roll into Towergate in 2009 assuming regulatory approval from the Financial Services Authority.
Mr Homer added that the group was not
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 Commercial
ABI alliance targets G20 presidency focus on protection gaps
The Association of British Insurers has joined forces with its Australian, Canadian and New Zealand counterparts in a new alliance that aims to tackle protection gaps and help shape the UK’s G20 presidency.
Cowbell launches AI agent to help SMEs tackle cyber risk
Cowbell has launched an artificial intelligence-powered risk adviser designed to help small and medium-sized enterprises identify and address their cyber risks.
Conflict-driven construction costs widen underinsurance gap
The latest BCIS data highlights how cost volatility can affect reinstatement differently from new build, leaving static sums insured increasingly vulnerable to underinsurance.
Beazley’s Cox exits as Zurich completes £8bn takeover
Adrian Cox is leaving Beazley as Zurich completes its £8bn acquisition of the specialty insurer.
Biba flood scheme pays £9m in claims over first decade
A specialist commercial flood insurance scheme from the British Insurance Brokers’ Association and Mi Specialty has paid more than £9m in claims to businesses over its first decade, with the scheme now covering £600m of assets.
Penny Black’s Social Diary: QBE’s pasty & FT’s pastries
Penny Black has been out and about again, notebook in one hand and canapé in the other, keeping a keen eye on the insurance industry’s more whimsical moments.
Ogden calls for different responses to predictable shocks
Stephanie Ogden, CEO of Munich Re Global Specialty, has said the insurance industry must respond differently to predictable shocks as it becomes accustomed to black swan events.
Crabb leaves Covéa among raft of schemes exits
Nicki Crabb is leaving Covéa as head of etrade and schemes trading, adding to a list of at least five who have left the insurer’s schemes business over the past few months.