Towergate Acquires Specialist Underwriters AUL
Towergate Partnership announced a major addition to its
Underwriting Division following the acquisition of Agency
Underwriting Limited (AUL) based in Colchester. AUL controls £24m
GWP, with a strong track record in underwriting buy-to-let,
specialist property owners, and niche travel business.
It is planned that the business will operate from Towergate's
prestigious new offices at the Octagon Centre in Colchester under
the continued management of Richard Lamberth and his team of 50
staff.
Richard Lamberth was delighted with the move:
"Towergate will bring a wealth of experience to further enhance our
underwriting agency model, as well as providing us with further
distribution opportunities. In addition, we are getting access to
around 200 products in the Towergate range, and it is great to be
joining such a progressive company"
Peter Cullum, Executive Chairman of Towergate, commented:
"AUL fits our profile very well. They are a well-run specialist
business, and have demonstrated their innovation through being one
of the first companies to specialise in the buy-to-let market, and
the development of some interesting niche products. This deal adds
some great expertise to what is already a strong area for
Towergate, and it will broaden AUL's own potential."
Media Contacts
Russell O'Connor
Group Communications Manager
Towergate
Tel: 01622 656782
Mobile: 07760 282586
Email: Russell.o'connor@towergate.co.uk