Towergate in acquisition talks with ten companies

The acquisition programme of Towergate Underwriting Group is gaining momentum.

The virtual insurer has announced that it has around ten acquisitions under negotiation and 12 more in the preliminary stages of discussion.

Towergate director Tony Proverbs said that there was a growing demand for intermediaries to sell their business, and that not all were FSA related.

Towergate has also restructured the group into one holding company and one operating company. The 14 operating companies have become trading names of the group.