13 May 2015 Insurance

Towergate appoints new chairman

Towergate has appointed a new chairman. John Tiner CBE is an independent non-executive member of the board of Credit Suisse Group. He succeeds Alastair Lyons.

Scott Egan, interim Towergate CEO, said: “I am pleased to welcome John Tiner to the Towergate Board and am looking forward to working with him as chairman, as we continue to build substantial momentum across all our businesses following the recent successful recapitalisation of Towergate.

“I would like to personally thank Alastair for his leadership and guidance. He has been at the helm of Towergate for four years, has supported our senior leadership community during a difficult period and has been an advocate for the business across the UK insurance industry.”

Tiner said: “Towergate is a business which is now far better positioned to embrace the significant opportunities that exist in the marketplace. The group can now do this with renewed confidence in its strategy to lead in specialist insurance and underwriting markets.

“The recent recapitalisation of the business has reinforced Towergate’s position as a formidable presence in UK insurance, re-emerging more determined than ever in its ambition to be the leading UK insurance broker. I very much look forward to being a part of the Towergate story as it moves into a new chapter.”

Lyons added: “It has been a privilege to chair Towergate, a business which changed the landscape of UK insurance broking. Its market leading positions across a range of niche and specialist markets are invaluable as are its very strong relationships with UK insurers. I feel certain that John will make a great contribution to Towergate as it now develops its ambitions to further capitalise on a unique distribution model, with the backing of supportive long term investors and a stable financial capital structure.”

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