Towergate underwriting agency brings in leading carriers and installs new management.
Towergate has moved to shore up its underwriting agency, Fusion, by finally confirming a host of leading insurers on its panel.
Allianz, NIG, Equity and Fortis will handle Fusion’s SME book of business from the beginning of the New Year. QBE has been appointed to handle a stand alone book of business linked to larger risks through its Lloyds underwriters.
However there was no place for Norwich Union or AXA on the panel. Both insurers have been openly critical of commissions being demanded by consolidators, such as Towergate.
RSA is currently in negotiations to join the panel. A spokesman said that any deal would have to be profitable for the insurer.
Towergate has also moved to install a new management team drawn from within the existing Fusion team. Scott Brown has been appointed managing director of Fusion having previously held the position of executive manager for the Bristol office.
The executive manager of the Birmingham office, Nick Wright, has been appointed sales director. Meanwhile Stewart Gardner will become underwriting director and will succeed Stuart Pettet who retires at the end of the year. Gardner was previously underwriting manager in Fusion’s Manchester office.
The Fusion regional offices will report to Keith Jackson, who has been appointed regional director, having previously held the position of general manager, North.
Insurance Times reported earlier in the year that Allianz and RSA had given notice to Fusion over the summer to terminate their binding agreements following poor returns. The move followed the departure of former Fusion bosses Kevin Pallett and Geoff Crisp.
