Insurance adviser Towergate has bought payment protection insurance provider British Insurance for an undisclosed sum.
Following the acquisition Simon Burgess remains as managing director of British Insurance and all staff have moved to Towergate. The deal follows Towergate’s December 2007 completion of its £95m Broker Network acquisition. Towergate plans to de-list the insurance network from AIM, the alternative investment market, and buy the remaining minority shareholding. To comment on this story contact: Jennifer Bollen Reporter Tel: 020 7034 2679 E-mail: [email protected] IFAonline
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