Rumours of a £3bn sale are strenuously denied by Towergate
Towergate has strenuously denied rumours that the group is set to be sold.
According to a number of newspapers reports, Towergate has put a £3bn price tag on the company as a whole and has advised Lexicon Partners to handle arrangements for the potential sale.
In April, the group confirmed that Patrick Snowball, then head of Norwich Union, was to join Towergate as deputy chairman, and would be spearheading its growth into the IFA sector. At the time of the announcement, Insurance Times reported that speculation was rife that Towergate was gearing up for a flotation which would see Cullum retire and group chief executive Andy Homer leave the company.
