24 September 2015

Clive Nathan, Chief Executive Officer Underwriting has decided to leave Towergate at the end of January 2016.

Clive, who has been with Towergate since 2003, will continue to operate in his role until the end of October 2015.

Adrian Brown, currently interim Chief Executive Officer of Towergate, will assume the role of Chief Executive Officer Underwriting* from 01 November 2015 alongside his current COO responsibilities.

Upon the appointment of David Ross as Chief Executive Officer on 01 November 2015, the Towergate Executive Team will be comprised of:

David Ross Chief Executive Officer*
Mark Mugge Chief Financial Officer
Janice Deakin Chief Executive Officer Insurance Broking*
Adrian Brown Chief Executive Officer Underwriting and Chief Operating Officer
Sarah Dalgarno Chief Risk Officer*
VACANCY Human Resource Director (Currently Steve Pratt in an interim role)
Steve Wood Chief Executive Office Paymentshield
Jennifer Owens General Counsel

In addition, Andy Fairchild continues to run an independent Broker Network and both David Ross and Janice Deakin will join the board of that business.

Adrian Brown commented today:
“I would like to thank Clive for all he has done in his twelve years at Towergate. He has been a constant through changing and challenging times in the history of the business. His leadership of the largest MGA in the UK has set the bar for others to follow. I’m looking forward to working with the team to ensure we continue to set the standard for a great underwriting business.”

I know I can speak on behalf of our majority shareholders and the Board in saying how grateful we are to Clive for his significant contribution and would like to wish him all the best in the next phase of his career.”

* Subject to usual regulatory approvals

Notes to Editors

Towergate Executive Team as of 01 November 2015:

  • David Ross – Chief Executive Officer: David had a 25 year career at Arthur J Gallagher having started there as a trainee. He was appointed Managing Director of the North American Division in 1997 then CEO of Global Wholesale & Retail in 2003. In 2005 David was appointed CEO of the International Division where the company underwent a defining period of growth and expansion. An Insead Alumnus, David has spent his entire career on the front line of Broking and Intermediary work in the Insurance industry.
  • Mark Mugge – Chief Financial Officer: Mark held various senior finance and audit positions at AmerUs Group Co, Grinnell Mutual Reinsurance Company and GuideOne insurance before joining Arthur J Gallagher in 2006 where he was Group Controller until 2010. He then served as the CFO of the international division at Arthur J Gallagher’s from 2011-2015. Mark earned his CPA at KPMG LLP and served in the United States Marine Corps.
  • Janice Deakin – Chief Executive Officer Insurance Broking: Janice had a 13 year career at AVIVA, leading the broker business as intermediary and partnerships director from December 2009 until 2013 and prior to that, corporate sales director. Janice then served as the CEO of UK Retail for Arthur J Gallagher, leading a combined business of over 2,000 people, placing in excess of £1billion of gross written premiums on behalf of more than 200,000 commercial insurance customers. Janice’s appointment as Retail Broking Director at Towergate was announced in June 2015.
  • Sarah Dalgarno - Chief Risk Officer: Sarah has more than 25 years’ industry experience and joins the Group from Arthur J Gallagher International, where she spent nine years, latterly as CRO, responsible for all regulatory, compliance risk management and governance matters of the UK regulated entities and international operations. Prior to Arthur J Gallagher, Sarah worked at the FSA for 6 years.
  • Adrian Brown – Chief Executive Officer Underwriting and Chief Operating Officer: Adrian is a qualified management accountant with extensive industry expertise having spent 25 years at RSA. He was a main board director and CEO of the UK and Western Europe for 6 years. Previously he was UK COO and established, and led, the successful direct business MORE TH>N. More recently he was executive chairman of underwriting and distribution at Arthur J Gallagher.
  • Steve Pratt - Interim Group HR Director: Steve joined Towergate in April 2015, as Interim HR Director for the Direct Division and Central functions and was appointed Interim Group HR Director in August. Steve is a highly experienced interim HR Director having held a number of roles, latterly in Financial Services, including Direct Line, Skandia, Swiftcover.com, Novia Financial plc and Swinton Insurance. Latterly, at Swinton he took a lead role in the business’s 1000 day Transformation Programme and implementation of shared services. Steve started his career in HR with Nestle and Ross Foods, before moving into Electronics with Plessey. He joined Thorn EMI in 1990 holding various Divisional HR Director roles before becoming Managing Director of Thorn Business Communications.
  • Steve Wood – CEO Paymentshield: Steve has worked in the insurance industry for over 30 years, including a range of senior executive roles. Before joining Towergate he was UK Managing Director at Ecclesiastical Insurance Group, where he spent 8 years, strengthening its core market positions and broker relationships. Prior to Ecclesiastical, Steve led the MBO of Royal SunAlliance’s healthcare division. He started his career at Royal Insurance.
  • Jennifer Owens – General Counsel: Jennifer joined Towergate in 2013 having previously worked for William Hill PLC where she served as Deputy General Counsel. Prior to this, she held several executive positions including General Counsel at Espirito Santo/Execution Noble and Legal and Compliance Director at GE Money, after her time in private practice with Herbert Smith.

Media Queries Internal Contact

Kelly-Ann Knight - Corporate Communications Director

Towergate Insurance Limited

Email: kelly-ann.knight@towergate.co.uk