Towergate backers bring together UK GI businesses
Towergate, Autonet, Chase Templeton, Ryan Direct Group and Price Forbes to be combined by the third quarter of 2017.
HPS Investment Partners (HPS) and Madison Dearborn Partners (MDP) have stated that they are bringing together their UK regional network of businesses, including Autonet, Chase Templeton, Ryan Direct Group and Towergate Group.
This will comprise the majority of their existing general insurance investments in the UK and the move is set to be completed in the third quarter of this year.
The combined insurance giant is expected to collectively generate in the region of £2.8bn gross written premium
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