Towergate Secures 100th Acquisition

The Towergate Partnership is delighted to announce its 100th acquisition with the recent purchase of Westinsure Webb Limited.

Operating out of offices in both Falmouth and Truro, Westinsure Webb Limited controls in excess of £4.7m of primarily commercial premium, bringing Towergate Partnership's total GWP to over £1.2bn.

Managing Directors of Westinsure Vivian Macey and John Reynolds will continue to lead their current staff of 14. This 100th acquisition will further strengthen Towergate Partnership's existing business in the South West region.

Andy Homer, CEO of the Towergate Partnership commented:

"Westinsure deliver an excellent personal and local service to their clients and as such are an ideal fit for our growing presence in the South West where we now have 5 thriving businesses. We are delighted to welcome Vivien, John and their team".

Vivian Macey, Director at Westinsure Webb Ltd, added:

"Becoming Towergate Partnership's 100th acquisition is excellent news for Westinsure Webb. The move will enable us to further develop our business and provide a clear career path for our staff. We already have marketplace credibility, having traded in the area since 1935, and now our clients will also benefit from the Group's increased capacity and portfolio".

Peter Cullum, Executive Chairman of the Towergate Partnership concluded:

"Whilst work on the forthcoming union between Towergate and Folgate continues, both businesses have maintained a clear focus on their acquisition pipeline. The Towergate Partnership will control more than £1.1bn GWP on completion of the merger and it remains our objective to reach £2bn by the end of 2006".

Media Contacts

Russell O'Connor

Group Communications Manager

Towergate

Tel: 01622 656782

Mobile: 07760 282586

Email: Russell.o'connor@towergate.co.uk