Towergate buys Scottish broker

Towergate Partnership has today acquired Scottish insurance broking firm, J W Group Insurance & Risk Management Limited.

Under the deal, all 90 plus staff and Directors have made the move to Towergate and will continue to be led by managing director, Ken Davie.

The acquisition increases Towergate's presence in Scotland where it already has broking offices based in Paisley and East Kilbride. J W Group Insurance & Risk Management is a long established business whose six offices based in Edinburgh, Glasgow, Kirkcaldy, Berwick, Jedburgh and Galashiels will now join forces with Towergate.

J W Group Insurance & Risk Management controls premiums of £19m with a strong commercial and personal lines business and specialist niches including bed & breakfast and housing facility schemes.

Peter Cullum, executive chairman of Towergate said: “Towergate have to this point been underweight in Scotland, an important part of the UK economy. Our focus is always quality before quantity and with JW Group joining Towergate we intend to embark upon an ambitious programme of further strategic acquisitions and strong organic growth to ensure we build a significant presence in Scotland.”

Ken Davie, managing director of J W Group Insurance & Risk Management Ltd added: “After deciding to sell it was important for us to identify a company which could help grow the business across Scotland. Towergate does just that and more. It provides us with the size and scope to build our broking capability whilst providing our staff real career opportunities available from being part of a progressive and ambitious company.”