Tully departs Venture Preference

Venture Preference has been rocked by another senior departure with the resignation of Layton Blackham group personal lines manager Chris Tully.

Market sources have predicted further departures from the Layton Blackham group, part of the AXA owned broking subsidiary Venture Preference (VPL).

This follows the management reshuffle in February that saw Stuart Reid named sole chief executive of VPL, and Paul Meehan and Chris Blackham leave the company.

Tully was responsible for the Layton Blackham private clients division, based in London.

Following the executive reshuffle, Smart & Cook’s former head of personal lines, Tim Mortimer, was made the director responsible for the private clients business across VPL.

Stuart Reid, chief executive of VPL, said: “People come and go and he decided that he wanted to go elsewhere. He has been a fantastic guy for the business and we wish him all the best.”

Reid said he was currently carrying out a review of the private clients division and no decision had been made on whether a direct replacement for Tully would be appointed.

“We are looking at what the business model is going forward,” he added.

Sources have tipped Tully for an immediate return to the broker market.

Earlier this month, former AXA chief executive Peter Hubbard made a sudden departure from the insurer, and was immediately followed by markets managing director Mark Cliff, who was appointed managing director of Fortis Insurance.