PowerPlace appoints new CEO

by Richard Kilner

Story link: PowerPlace appoints new CEO

PowerPlace has announced the appointment of Matthew Reed as its new chief executive officer.

Reed, formerly Sales & Marketing Director at Towergate Risk Solutions, will take up his new post on 1 October.

PowerPlace was established earlier in 2009 and since then more than 300 brokers have signed up to it, leading to an annual premium run rate of more than £20m.

The business is forecast by Towergate Partnership Executive Chairman Peter Cullum to be generating gross written premiums exceeding £100m by the end of next year.

Cullum has paid tribute to the good work of the staff at PowerPlace, and stated that there are new insurers looking to collaborate with the firm and offer new products.

PowerPlace boasts over 30 products from big name brands LV=, NIG, Zurich, Groupama, Fortis, MMA Insurance and Towergate Underwriting.