Group expands Welsh footprint

The Towergate 'family' has made a further push into the Welsh broking market with the acquisition of Culver Insurance Brokers.

The purchase was made through Protectagroup Acquisitions, itself a subsidiary of Cullum Capital Ventures (CCV), for £4m. The confusing string of businesses involved in the purchase only came to light as the acquisition involved a publicly listed company, which demanded greater clarity in any deal.

According to CCV chief executive Tim Johnson, Protectagroup Acquisitions was