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August 28, 2015 3:13 PM ET


Company Overview of Towergate Partnership Limited

Company Overview

Towergate Partnership Limited, an insurance intermediary offers personal and commercial insurance products. It offers personal insurance products, such as boat, caravan, home and property, life and planning, military, motor, travel, car hire excess, equine, and school insurance products; and commercial insurance products, including care and medical, financial, liability, property, trade specific, transport, cyber protection, and events insurance. The company also underwrites risks, administers policies, and handles claims and renewals for its brokers and external brokers; provides network services, such as business support services that include marketing, compliance, IT, training, and human ...

Towergate House

Eclipse Park

Sittingbourne Road

Maidstone,  ME14 3EN

United Kingdom

Founded in 1997


44 1622 754 754


44 1622 754 999

Key Executives for Towergate Partnership Limited

Interim Chief Executive Officer and Director
Age: 43
Founder and Non-Executive Deputy Chairman
Managing Director of TRS Poole
Group Chief Financial Officer and Chief Operating Officer
Chief Executive Officer of Retail Broking
Compensation as of Fiscal Year 2015.

Towergate Partnership Limited Key Developments

Towergate Announces Earnings Results for the Six Months Ended June 30, 2015

Towergate announced earnings results for the six months ended June 30, 2015. The company's operating earnings decreased by 40% to £39 million against £65 million a year ago, alongside a 10% drop in revenues to £184 million for the period. Profit before tax at the consolidator fell from £15 million in the first half of 2014 to a loss of £58 million this year and operating cash flow dropped by 72% to £12 million against £43 million a year ago.

Towergate Announces Executive Appointments

Towergate has appointed former Willis development director Richard Morgan to the role of sales and service director for its newly established City branch. He will report to David Armstrong, area director for London South, as part of the London regional team now reporting to Russell Collier. In addition to this, Tim Simpson-Lee and Richard Turner will join Towergate London Market, the firm's wholesale business dealing primarily with placement into Lloyd's of London. Simpson-Lee joins from the underwriting management team at QBE having formerly held underwriting positions within Lloyd's.

Towergate Announces Executive Changes

Towergate has announced that interim CEO Scott Egan will be leaving the company, to join the executive board of RSA Insurance Group as group chief financial officer. Mr. Egan was appointed interim CEO in February 2015 and will continue to operate in this role as he serves a notice period. The company also confirms the appointment of Mark Mugge as Towergate Group chief financial officer following the planned departure of the company's interim CFO. Mr. Mugge will continue with his responsibilities as chief operating officer, pending a new appointment.

Recent Private Companies Transactions

March 5, 2015
Towergate Financial (West) Limited
September 2, 2014
The Folgate Partnership

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