Towergate sees first quarter profits fall
Towergate has reported a 2% drop in operating earnings to £33.8m for the first quarter of 2013, from £34.6m in the first three months of 2012.
The consolidator did however report an increase in gross written premium to £757m for the period (Q1 2012: £743m) as group income rose 3% to £107.8m.
By division, the broking giant revealed a 6% rise in operating earnings in retail to £15.2m as underwriting also rose by 4% to £9m.
However, the woes of the network division continued with a massive 50% fall in operating earnings to £1.3m and a near one-third decrease in income to £3m (Q1 2012: £4.5m).
Paymentshield also saw income drop, in this
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
Biba recruits ‘great match’ Maxwell as Northern regional manager
The British Insurance Brokers’ Association has appointed Lesley Maxwell as regional manager for the North.
Flaxmans opens claims insight library for brokers, legal advisors and insurance practitioners
Flaxman Partners has launched The Flaxmans Library, offering insight into why claims fail and where misunderstandings arise in practice.
Biba 2026 Countdown: Axa’s Matt Field
Matt Field, partnerships director at Axa Insurance UK – retail, invites people to visit its van on the cobbled area next to the conference centre and warns against burn out by over-filling your diary with appointments.
Broker Direct teams up with Chinese insurer for property product suite launch
Broker Direct has partnered with China Taiping to provide property insurance products designed with brokers in mind.
Gauntlet targets ‘ghosted’ DA brokers following Clear deal
Brokerbility and Gauntlet are eyeing up expansion with brokers in all lifecycle stages after joining forces at the start of this year, with directly authorised firms moving to the AR model a key area of opportunity.
Broker growth optimism rises to new heights
Brokers are increasingly optimistic about growth, with regional players leading the way according to a survey by Aviva.
Biba 2026 Countdown: CyberCube’s Nate Brink
Nate Brink, head of broker sales and account management at CyberCube, is flying in from Michigan to attend his first ever Biba Conference and is looking forward to savouring a local curry and gaining valuable insights in the coffee queues.
Analysis: Are employee benefits the new diversification frontier for GI brokers?
This year, Top 100 UK brokers Jensten, Lloyd & Whyte and Clear have all joined amii, a trade body representing intermediaries advising on health insurance, protection and wellbeing services, while others have acquired in this space. Sam Barrett looks at why firms more closely associated with general insurance broking are branching out to capitalise on opportunities in the employee benefits market.