November 12, 2018 by Jason Contant
Editor’s Note: George Longo, president and CEO of commercial brokerage Towerhill Insurance Brokers, sold his Towerhill retail brokerage business to BrokerLink, as reported on Nov. 12, 2018. In a statement to his clients, Lloyd’s syndicates and colleagues, Longo said he sold his Towerhill retail brokerage and would be continuing to dedicate his full efforts to Excess Underwriting MGA and the Lloyd’s marketplace. An initial headline on this story may have inadvertently caused people to believe that he sold Excess Underwriting MGA, his Lloyd’s book, which he did not.
“BrokerLink’s investment in technology to stay competitive and meet customer expectations was a key reason for the sale,” Towerhill Insurance Brokers, a Lloyd’s coverholder, said. Established in 2013, Towerhill provides both personal and commercial insurance, specializing in the latter.
The brokerage’s personal and commercial clients want quick-and-convenient service, and technology is a huge part of this, said Towerhill president George Longo. BrokerLink currently and continues to invest in customer-focused technology. “Our clients will get service which keeps market trends, and their needs, at the forefront.”
From a broker texting clients to instant messenger options, how customers want to engage with their insurance provider is evolving, said BrokerLink president Joe D’Annunzio. “Investing in technology is part of being adaptable. By investing in technology, we can quickly adapt to, and understand customer expectations and needs.”
Towerhill sister company, Towerhill Insurance Underwriters Inc. (operating as Excess Underwriting) was not included as part of the transaction.
Established in 1991, the BrokerLink companies, which include Canada BrokerLink Inc., Canada BrokerLink (Ontario) Inc. and Macdonald Chisholm Incorporated, together constitute one of the largest Canadian P&C brokerage operations. BrokerLink companies are subsidiaries of Intact Financial Corporation, with over 135 offices supported by more than 1,800 employees across Ontario, Alberta and Atlantic Canada.