Towergate Group
Towergate is a familiar name in the Top 100 and is another business founded by Peter Cullum. It is now part of the Ardonagh Group which is helmed by David Ross.
Towergate features in the Insurance Age Top 100 Insurance Brokers 2021 listing. Find out what other companies made the cut.
Cullum bids fond farewell to Towergate
Founder leaves business along with Andy Homer.
Sterling takes one from Broker Network
Michael Brooke joins from Broker Network where he was insurance relations manager for Towergate.
Fitch: Towergate faces limited growth in challenging market
Ratings agency says consolidator also faces execution risk in completing transformation plan.
Moody's: Towergate's profitability to remain constrained
Moody's expects difficult trading conditions in the UK market to affect the broker's revenue and profitability over the next 12 to 18 months.
Towergate won’t stop acquiring, says Egan
Interim CEO commits to acquisitive strategy following recapitalisation and argues that the broker won’t rebrand as it reaches “landmark deal”.
Towergate hails "solid financial footing" as restructure process completes
Firm's debt reduced by 60% and liquidity improved.
Unsecured creditors complete Towergate takeover
Deal finalised on 2 April.
Towergate closes Jedburgh office in Scotland
Consolidator confirms there are no job losses as staff relocate to Galashiels.
Towergate ownership change set for April
Broker announces sanctioning of Schemes of Arranges which will see control go to unsecured creditors.
Gallagher and Ross agree on speedy trial in July
Judge approves trial against all three defendants commencing in July.
Gallagher takes David Ross to court
Broker confirms it's taking legal action against former boss Ross, Mark Mugge and Chris Keey.
Axa UK unveils £5m broker fund as it targets 95% COR
Insurer looking to grow mid-market share from 3% to 15% over five years.
Gallagher's Dalgarno moves to Towergate
Gallagher's chief risk officer to take on the same role at Towergate.
Towergate sale of John Charcol and financial planning businesses completed
Management buyout package totals £14m.
Oliver Corbett appointed interim CFO of Towergate
Visa delays stop previously appointed Marc Vassanelli from taking on the role.
Towergate appoints Wood as CEO of Paymentshield
Former Ecclesiastical UK managing director Steve Wood returns to the insurance industry to join Towergate's executive team.
Towergate files for bankruptcy protection in US
Towergate Finance goes to US court to see through restructuring plans.
Revenues up at Open GI holding company in 2014
Operating profit increases to £25.4m.
Towergate sold Powerplace for £1
Independent strategy and investment in technology has helped business grow, says Open GI chief.
Towergate Financial Group is sold for £8.64m
Towergate Group sells the business to Palatine Private Equity as it concentrates on core businesses.
Editor's letter - March 2015
“In recent months… you would rarely see mention of Towergate without the word ‘troubled’. That has passed for now”
Towergate and Gallagher: What next?
Towergate's turmoil and departures at Gallagher have grabbed the headlines, but calm may be in sight
JLT says Towergate was never in its sights
Broker not interested in consolidator despite snapping up some elements of the business.
Rea leaves as Towergate confirms new executive team
John Kitson, ex-Aviva sales and marketing director for UK general insurance, joins the broker.