Hodges pleased with top-line growth
Mark Hodges, CEO of Towergate, has declared the 1% increase in gross written premium and 3% rise in income as "really important" and a "positive for the group".
However he also admitted that the he was "very focused" on improving the flat trading performance of the group.
Hodges shared his thoughts with Insurance Age as the consolidator revealed that Towergate Insurance made a pre-tax loss of £9.9m for the first half of 2013.
He ascribed the loss as being in the main due to writing off loan fees as a consequence of the £396m recent bond issue.
"The PBT [profit before tax] doesn't really reflect the trading results. We are not too hung up about it at
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