Fast Track 100

This insurance firm had much to celebrate on its 10th anniversary this year. It had just made its 138th acquisition, and a shareholder restructuring allowed founders and management to take £100m out of the company when HBOS led a £580m refinancing of the business. The current group was created in 2005 when chairman and co-founder Peter Cullum merged Towergate with another insurance firm he had set up, the Folgate Partnership. Cullum’s strategy remains unchanged – the company has a £200m war chest to spend on buying up specialist brokers and underwriting agencies. Sales have grown 80% a year from £40.7m in 2003 to £237.6m in 2006.

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Company details
Year2007
Rank59
CompanyTowergate Insurance
ActivityInsurance underwriter and broker
LocationMaidstone
Annual sales rise over 3 years79.99%
Latest sales £000s237,587
Staff2,545
Founded1997
Websitewww.towergate.com

If applicable:

* supplied by company † annualised figure