Towergate acquires British Insurance
Towergate, the independently owned insurance intermediary, has acquired British Insurance, the award wining provider of payment protection insurance.
British Insurance specialises in the mortgage and loan payment protection market and has gross written premiums of around £10 million.
Following completion on the transaction, British Insurance staff will be retained, including the firm’s managing director, Simon Burgess.
The brand will retain its own identity but staff will relocate from British Insurance’s offices in Essex to Towergate’s Maidenhead site.
Peter Cullum, Towergate’s executive chairman, comments: “British Insurance is a great signing for Towergate and complements our existing payment protection capabilities.”
Simon Burgess adds: “This is a very exciting new phase in our development. We have built our business on our commitment to offering a very competitive and compelling proposition to consumers and concluded that Towergate was the ideal partner to support us this next phase of development.”
Towergate was established in 1997 providing insurance in niche markets ranging from holiday homes to cherished cars.
The group currently offers over 200 products and operates from 100 UK offices.
Category: Companies News, Insurance News
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