Acquisition will build Towergate's PPI business
Towergate has acquired British Insurance, a leading provider of payment protection insurance.
Under the terms of the deal, Simon Burgess will remain as managing director of British Insurance. All staff have made the move to Towergate.
British Insurance is a leading brand in the mortgage and loan payment protection market controlling around £10m GWP.
Peter Cullum, Towergate’s executive chairman, said: “British Insurance is a great signing for Towergate and complements our existing payment protection capabilities. As a leading brand name, the company will continue to run under its own identity through the leadership of Simon Burgess."
Simon Burgess, Managing Director of British Insurance said, "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."
