Towergate Underwriting, part of the newly formed diversified insurance company, The Ardonagh Group, has taken another landmark step as it launches the first business in its new international MGA -FRAM.
FRAM, which means “to move forward” in the Scandinavian languages, will operate in Norway, Denmark, Sweden and Finland. It will focus on underwriting local commercial business under one underwriting team specialising in property, casualty, financial lines, engineering and energy classes.
It will be led by Managing Director Tom Færøvik who joined Towergate earlier this year. Tom Færøvik has 35 years’ experience in the insurance market with his most recent position being general manager for Catlin Insurance in the Nordic region.
Joining Tom Færøvik is Senior Property and Construction Underwriter, Michael Lindbo who is based in Denmark along with financial lines manager, Christian Miller, based in Stockholm and Casualty Manager, Trond Haugen based in Oslo.
Commenting on today’s launch, Derek Henry, group carrier relations director, who led the project for Towergate Underwriting, said: “It is the realisation of a strategy we have been working towards since our change in ownership, and the culmination of huge team effort.
He added: “We are really excited to see it come to fruition and I look forward to the business being a big success.”
Paul Dilley, CEO of Towergate Underwriting, said the establishment of FRAM represented a significant milestone in the journey to becoming an international underwriting business - one that is only further enhanced by the international reach of its sister companies within The Ardonagh Group. He added that “FRAM shows the strength that we have as a business to deliver new opportunities and is a clear statement of intent on our future international strategy.”
“Tom and the team have in-depth technical and local knowledge and expertise that is second to none, and we’re confident this will drive great success for our new Scandinavian business.”