Following its recently announced appointments, Towergate is pleased to announce the structure for its new Executive Team, under the leadership of Scott Egan, Interim CEO. Scott takes up the role with immediate effect.
Commenting today, Scott Egan said: “I am delighted to have been able to complete our new executive team quickly and to such good effect. I am pleased to announce that joining the executive team will be Mark Mugge as Chief Operating Officer and Marc Vassanelli as Interim Chief Financial Officer. They will join the business next week.*”
Scott Egan added: “These new appointments will work alongside the following existing members of the team: Clive Nathan – CEO Underwriting, Mike Lawton – CEO Broking, James Tugendhat – CEO Direct, Carole Jones - Director of Human Resources, and Keith Jackson - Chief Risk Officer.
I have also asked John Kitson, whom I have known for a number of years, to work alongside the team supporting marketing and communications.
Following today’s announcement, Michael Rea has decided to leave the Group. I am very grateful to Michael for all he has achieved over the 7 years he has been with Towergate and wish him well for the future. No other management changes are contemplated.
This news today demonstrates Towergate’s ability to attract strong talented individuals excited by the potential of our market position and competitive strength, building on firm financial foundations.”
- Mark Mugge – Chief Operating Officer Mark joins from Arthur J. Gallagher, where he has been since joining in 2006. Since 2011 he was Chief Financial Officer of International Brokerage, based in London. Mark has over 18 years' experience in the insurance market, beginning his career at KPMG LLP as an auditor. Prior to Gallagher he held senior financial roles with AmerUS Group Co, GuideOne Insurance, and Grinnell Mutual Reinsurance Company. Mark is a Certified Public Accountant and Certified Internal Auditor.
- Marc Vassanelli – Interim Chief Financial Officer Marc has extensive experience across a number of executive roles, including Chief Financial Officer of the Marsh EMEA region of Marsh & McLennan Companies (MMC). Most recently he was engaged by Carlyle and TowerBrook to advise on potential acquisitions of business services technology companies. Previous experience includes roles as Chief Financial Officer of ConvergeOne Holdings and Chief Integration Officer and Chief Financial Officer of Equiniti Group.
- John Kitson John has over 20 years’ experience in senior and Board level roles at Financial Services companies, primarily focused around sales and marketing. He spent 14 years at Aviva, with his last role as Sales and Marketing Director UK General Insurance, holding an Executive Board position for both Aviva UK General Insurance and RAC. During his time at Aviva, John played a prominent role in the rebrand to Aviva from Norwich Union and was responsible for distribution channels with revenues in excess of £5bn. Prior to Norwich Union, John held a number of senior marketing positions at Lloyds Banking Group. He now has his own business and also holds one Non- Executive Director role.
*all subject to regulatory approval
Notes to Editors
Launched in 1997, Towergate is the UK’s largest independently owned insurance intermediary, generating more than £3 billion of pro forma gross written premiums across its companies and employing over 5,000 people across more than 100 UK offices.
Towergate is an important distribution channel for a significant range of insurance products and a key strategic partner for the UK’s largest insurers.
Towergate’s scale, customer insight and distribution relationships make it a unique business and a leader in the markets in which it operates. Its combination of distribution and underwriting gives it unparalleled consumer data and market insight.
Towergate operates across five core divisions:
- Insurance Brokers – Towergate Insurance Brokers distributes specialised personal lines and products, and more general products aimed at SMEs through around 90 broking offices located across the United Kingdom
- Underwriting – Towergate’s underwriting division is the UK’s largest MGA, providing specialist insurance products for brokers, without taking the ultimate capital risk. The MGA has over £750 million GWP under management
- Direct – Towergate Direct sells specialist Personal Lines and SME products primarily through telephony and digital distribution channels
- Paymentshield – Paymentshield is the leading provider of insurance products to mortgage brokers
- Network – Broker Network represents the largest Network for insurance brokers in the UK. The brand remains the leading proposition in the market in terms of size and breadth of service with 600 Members