Towergate has posted an Ebitda profit of £34.5m for the year ended 31 December 2016, compared to a loss of £38.1m in the preceding year.
The company also reported an income of £324.6m for the year, down 4.4% on the £339.6m it achieved in 2015.
It further revealed an adjusted Ebitda of £84.2m for the year (2015: £75.2m). The broker described the figure as being the management’s view of underlying profitability allowing for exceptional items and run-rate savings.
The insurance broking segment o
- Swinton puts 268 people at risk of redundancy
- Steve Lewis confident RSA UK will “bounce back” in 2018
- Cyber hacks reported to FCA by financial firms hit 69 in 2017
- Jon Dye brands 2017 as “landmark” year for Allianz in UK
- CBL Insurance Europe ordered to stop writing new business immediately
- RSA UK reports falling profits in 2017
- Ageas UK moves back into profit in 2017