Investment brings 100 new jobs
THE UK's largest independent insurance broker is moving to Colchester, creating up to 100 jobs. Towergate Partnership says it is moving into 24,000 sq ft of offices in the town's Octagon office building as part of a “significant” expansion programme.
THE UK's largest independent insurance broker is moving to Colchester, creating up to 100 jobs.
Towergate Partnership says it is moving into 24,000 sq ft (2,241m2) of offices in the town's Octagon office building as part of a “significant” expansion programme.
The firm is a specialist non-life insurance underwriting and broking business which underwrites insurance policies on behalf of the largest insurance companies in the UK and has a turnover of £1.3 billion.
The Octagon, a landmark building in the town centre, will be home to an insurance contact centre focused on new and existing commercial clients for the company. It will also be Towergate's centre of excellence for e-commerce.
A phased development is scheduled and Towergate expect to recruit up to 100 staff locally in the initial phase.
Towergate Operations Director Max Carruthers, who lives in Essex, said that Colchester would provide “an excellent base” for the firm's new operations.
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“Communications are excellent, and there is a reservoir of insurance trained talent for us to draw upon,” he said.
Letting agent for the Octagon, Jeremy Newman of Newman Commercial said: “This is an excellent news story for Colchester and the Octagon. Royal London have refurbished the former HQ in order to attract new businesses and are pleased to see that the building is now nearing full occupation again with most of the new jobs being created locally.”
Alastair Chapman of London-based surveyors Chapman Bates said: “The Octagon fulfilled all of my client's requirements, being close to the main line station, giving easy access to London and East Anglia, public transport and the town centre together with providing first class, air-conditioned office accommodation.”
The Towergate Partnership was created in October 2005 by merging Towergate Underwriting Group and The Folgate Partnership.
It now employs more than 2,800 staff, and generates premium of £1.52billion.
Peter Cullum, Paul Dyer and Tony Proverbs created the Towergate Underwriting Group in August 1997, and in February 1998, the Royal Bank of Scotland provided backing for the acquisition of underwriting agencies in specialist niches in the UK insurance market.
The Folgate Partnership was founded in 2002 by Peter Cullum, Andy Homer and Kenny McIver, and became the fastest-growing insurance intermediary in the industry.