The consolidator consolidates
The merger of Towergate and Folgate into the Towergate Partnership, in preparation for a public listing, creates the UK's largest independent insurance organisation, claims chairman Peter Cullum. He tells Nicolle Farthing how the merger has left him - and the new company - standing tall
The Towergate Partnership controls a massive £1.1bn gross written premium and plans to grow to £2bn GWP by the end of 2006.
Chairman Peter Cullum says: "We announced our intention to merge in January and began behaving as one company from 31 March, although the legal details will not be completed until the end of June. Cost-cutting is not a driver behind the merger, we do not want to cut staff, but want to continue to grow. We decided to merge to put us in a better position for a public listing."
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