Towergate has formed a specialty underwriting division exclusively for the London Market.
John Murphy and Glenn Marshall, best known for their roles at international underwriting agency DUAL, have agreed to join the firm specifically to work in the new division.
Murphy and Marshall originally joined DUAL back in 2012 as senior underwriters. Murphy is a seasoned veteran in the London market who started his career at MW Payne Syndicate back in the 1970s. In turn, Marshall began his liability career at Lloyds back in 1986.
Adrian Brown, the CEO of Towergate Underwriting, remarked that the important hires were “indisputable evidence that we (Towergate) are attracting the very best talent in the market… to take a leading position in this space.”
After heading the special liability business at DUAL for the last three years, acquiring Murphy and Marshall is certainly significant. This also comes as Towergate has recently announced the hiring of another heavyweight in the industry, Martin Joyce. He will head Towergate’s regional specialty business based in Manchester.
Upon the hiring of Joyce, Brown commented that Towergate was “cracking on, seizing upon numerous opportunities to review and refresh our (their) broker proposition.”
This new venture by will write a general liability portfolio, including employer’s liability, public liability and product liability. It will be based on the new underwriting floor at Towergate’s Mitre Street office.
The new specialty underwriting division for the London market is all part of the strategy Towergate is implementing, which includes their nine point turnaround plan and two year integration project. The initiatives are designed to drive new business opportunities and strengthen the infrastructure of the organisation.
With these initiatives and the three high profile new hires, it’s obvious that Towergate are positioning themselves as leaders in their area. We will keep a close eye on any developments or future news with the underwriting expansion.