Hodges: Property underwriting sale is "not a sign of weakness"
Towergate Group CEO defends decision to sell division to Peter Cullum-backed venture.
Towergate CEO has contended that the sale of its property underwriting division to a Peter Cullum-backed London Market venture is not a "sign of weakness".
Last month, it was confirmed that the division had been snapped up by new London-market consolidation business Global Risk Partners (GRP) for £9.25m.
Assessing the sale, Hodges told Insurance Age: "I wouldn't see it as a sign of weakness.
"Historically we have not been a selling business but in this particular circumstance it sits more
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