Towergate and Gallagher: What next?

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When Mark Hodges resigned as Towergate's chief executive last October after three years in the role not many people would have foreseen just how momentous it would be. His departure was followed by unspectacular financial results, a bondholder's report that highlighted the consolidator's money problems and the revelation that it was listening to offers from prospective buyers.

The sheer size of the business meant its trials and tribulations cast a cloud over the industry until its fate was decid

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