Towergate sells Hayward Aviation to JLT for £27m
Consolidator pursues strategy of selling small non-core businesses to ease problems.
JLT Group has agreed to buy Hayward Aviation from Towergate for £27m in cash.
Towergate, which has a debt of around £1bn and cash flow problems, is considering offers for the company and pursuing a strategy of selling small non-core businesses.
Hayward Aviation is a specialist aviation insurance broker that arranges insurance for regional airlines, small commercial fleets of fixed wing aircraft and helicopters, individual jets, light aircraft and helicopters owned by private clients.
Revenues
The business generated revenues of £10m and profit before tax of £3m in 2013, and JLT will keep the existing brand and finance the acquisition from cash resources and debt.
Dominic Burke, group chief executive of JLT, said: "This acquisition provides a unique opportunity to bring together one of the best general aviation brokers in the world with JLT's market-leading aerospace capabilities and international network to create a strong platform for growth in one of our core areas of specialisation.
"We have long admired Hayward Aviation and are delighted to welcome the team and their clients to JLT."
Opportunity
Guy Holland-Bosworth, chief executive of Hayward Aviation, said: "JLT offers our clients and our people a fantastic opportunity to join a company that shares our specialty-focused strategy and our client-first and entrepreneurial culture.
"As part of JLT, we are now able to fulfil our ambition of building a truly global General Aviation business."
The acquisition is subject to regulatory approvals and other formalities and is expected to complete in early 2015.
For all the latest industry news direct to your inbox, sign up for our daily newsletter.
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
Momentum AR outlines challenges of launching his first business
A new Momentum Broker Solutions’ appointed representative has outlined the challenges he has faced setting up his own business for the first time and why he made the leap.
People Moves: 24 – 28 August 2026
Follow the latest personnel moves in insurance.
Biba and Markel AI Academy opens for applications
Members of the British Insurance Brokers’ Association can now apply to join the founding cohort of the AI Academy being offered in partnership with Markel.
Broking Success: Vista Insurance Brokers’ CEO Gavin Ruben – leader of PE niches
Gavin Ruben, CEO of Vista Insurance Brokers, has set out the goal of becoming the leader of its specialist mergers and acquisitions insurance niche, along with the other parts of the firm’s 2035 ambitions.
Blog: AI fraud is becoming a broker problem, not just an insurer problem
AI-generated documents extend the risk of fraud beyond claims settlement to the application and quote stages. Oleh Petrivskyy, founder and CEO of Binariks, explains why insurance distribution needs its own authentication mechanisms and offers four low-cost steps brokers can start with now.
Lockton brings in ex-Aviva and Gallagher leader Piper
Louise Piper has joined Lockton as a placement director in its major accounts business, working across large and complex clients.
Liquidators reveal estimated £9m hole at broker Anthony Jones
The liquidators of Kent-based Anthony Jones (UK) have released a statement of affairs estimating a £9.22m deficit, with numerous insurance businesses and HMRC facing potential losses, some as high as six figures, after the collapse of the broker.
Ardonagh reveals advisory growth in year of Everywhen name switch
Ardonagh Advisory grew income by 4.7% in 2025, the year it switched name to Everywhen, a filing at Companies House has revealed.