Speculation rife over Towergate’s future

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Towergate’s third quarter results and the seismic announcement that it is for sale while facing cash flow problems have dominated the news recently.

It is, after all, a business that deals with around £3bn in premium each year and has been a leading force in the market since being founded by Peter Cullum in 1997.

The consolidator had long been at the centre of speculation and intrigue about its financial plight but the news on 19 November was still shocking. Firstly, it confirmed that it had app