Towergate Insurance

Since its launch in 1997 by founder and deputy chairman Peter Cullum, 63, this insurance broker and underwriter has grown through almost 200 acquisitions. Led by group chief executive Mark Hodges, 47, the business specialises in selling insurance for niche markets – from holiday homes to helicopters – and generates more than £3bn in gross annual premiums. In 2011, Advent acquired a minority stake for £200m.

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Company details
CompanyTowergate Insurance
ActivityInsurance underwriter and broker
Sales £m439.1
Operating profit £m135.5
Main shareholdersAdvent International (<50%), management (>50%)

If applicable:

* supplied by Company   † annualised figure   ‡  profit = ebitda