The consolidator bubble: refunding lessons

Tony Cornell

If the press reports are correct, the refunding of Towergate marks an incredible turnaround from the dizzy heights in broker values before the crash in 2008. At the time, it was believed there was an offer of some £800m for a 25% share of the business excluding Paymentshield and CCV. This valued the businesses at well over £3bn, propelling Peter Cullum, the majority shareholder, into one of the leaders in the Sunday Times UK rich list.

The offer from Advent International appears to be for £200m

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 [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: