Towergate made £26.6m loss in first quarter
Ebitda also tumbled at the consolidator.
Towergate made a loss of £26.6m in the first quarter of 2014, a worse performance that the £19.5m loss in the same period of 2013.
The consolidator's Ebitda also fell to £24.7m, down from the £33.2m posted last year.
Paymentshield saw a significant drop in adjusted Ebitda down from £12.7m in the first quarter of 2013 to £9m this year.
In the underwriting division the adjusted Ebitda remained stable, at £8.1m, while networks showed a slight improvement, going from £1.4m to £1.8m.
Decline
Other
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