Towergate Makes Major Acquisitions from THB Group plc
Towergate has announced the purchase of THB Clowes Ltd and THB
Financial Services Ltd from THB Group plc.
Under the terms of the deal, the two businesses will operate
from their existing offices in Warwick and Nottingham. The deal
also includes THB Egger Lawson, a division of THB Clowes,
specialists in an extensive range of motor sport risks. The
businesses control a combined premium of over £40m GWP.
THB Clowes offers insurance solutions for specialist and high
risk activities, such as motor sport and competition racing. In
particular, they have a long track record in Formula One racing.
THB Clowes also run a number of leading sports schemes including
the leading professional rugby players’ scheme.
THB Financial Services provides expert advice in the areas of
executive solutions, the provision of employee benefits and
personal financial planning.
Peter Cullum, Towergate’s Executive Chairman said: "This is an
exciting opportunity for Towergate. Not only a profitable general
business, including the market’s leading motor sports broker, but
also an accomplished financial services company."
"The companies bring some great expertise to Towergate and they
will benefit from access to the widest general insurance product
range in the market."
Paul Dudley, Chairman of THB Clowes, said: "This deal will allow
our business to invest further in the areas where we can best bring
our expertise to bear for our clients. It also strengthens our
position in the market place as a leading broker in the commercial,
sport, leisure and motor sport industries."
Media Contacts
Russell O'Connor
Group Communications Manager
Towergate
Tel: 01622 656782
Mobile: 07760 282586
Email: Russell.o'connor@towergate.co.uk