Towergate in HNW launch with Sterling

Towergate has launched a new high net worth capability which it claims is designed to give brokers enhanced access to market leading products.

A new underwriting zone, Towergate Underwriting Private Clients (TUPC) provides brokers access to a specialist high net worth team based in Romford, Essex.

Led by managing director Andy Westby, the team will work alongside Towergate’s national sales force to provide brokers with an end to end service capability supported by extensive underwriting and claims authorities.

The first product available from TUPC is home insurance for clients with possession in excess of £75,000. Underwritten by leading high net worth insurer Sterling Insurance, the product provides warranty-free all risks cover on a worldwide basis, with an entry level premium of only £1,000.

Towergate Underwriting chief executive Clive Nathan said: “Our broker partners have been asking us to develop a high net worth proposition in a market where choice is still restricted for many. After extensive market analysis we are now able to offer brokers a flexible best of breed product which they can offer their clients. What’s more we have exciting plans to launch further products in the high net worth space where we see significant growth potential.

Household and commercial director at Sterling Insurance, David Sweeney said, “We are delighted to be working with Towergate on this new initiative for them. Our reputation and expertise in this market made us an ideal partner for Towergate. Their distribution network is very complimentary to our own and presents extensive growth opportunities for both companies.