Towergate posts £58m half-year loss
Income drops 10% for first six months of 2015.
Towergate has revealed a slew of negative numbers in its results for the year to 30 June 2015.
Income at the company dropped 10% to £184m from £204m in the same period of 2014 as operating earnings tumbled by 40% to £39m (H1 2014: £65m).
And the consolidator swapped a pre-tax profit of £15m at this point last year for a £58m loss this year.
Meanwhile the expense ratio at the firm climbed by 11 points to 79% for the first six months.
Divisions
Broken down by division all the metrics across the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
FCA issues warnings over DLG and short term cover broker clones
The Financial Conduct Authority has warned of two clones claiming to be Covertime and UK Insurance, part of the Direct Line Group.
Broker Expo Roadshows coming to London, Bristol and Manchester in 2026 – sign up now
Building of the success of the Broker Expo in Birmingham, Insurance Age is going on the road in 2026.
Swansea broker Compare buys £1.5m GWP book of clients
Swansea-based Compare Insurance has acquired the book of clients from Insure My Business, adding £1.5m gross written premiums to the business.
People Moves: 2 – 6 February 2026
Stay in the loop with the latest insurance personnel moves.
The most significant pressures reshaping UK insurance broking in 2026
With the UK’s top insurance brokers facing shifting market conditions, there is no better time to reassess the commercial, regulatory, and technological pressures shaping the sector. PKF Littlejohn insurance partner Paul Goldwin and director Charles Drew consider the areas of focus and the importance of discipline to position firms for the year ahead.
Howden confirms $703m bond raise
Howden has confirmed its latest fund raise to bolster funding available for future growth investments.
WTW reveals 6% organic growth in broking for 2025
WTW has reported 6% organic growth in its risk and broking division last year, down from 8% in 2024 and 10% in 2023.
Consilium launches blended cover for real estate
Wholesale broker Consilium has launched a professional indemnity, directors and officers, and crime policy for the real estate market.