Another senior figure leaves as Towergate IPO looms

An exit sign

While details of his departure are unclear, it is understood that there are no plans to fill this position.

Mr Carruthers was appointed as group operations director in 2005. Prior to this he was deputy managing director at Economic Insurance until Hiscox bought the firm in 1996. He then became managing director of Hiscox Insurance. In 1998, he was appointed chief executive of Eastgate Assistance. He became joint chief executive of Rubicon Corporation in 2001. 

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