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Towergate buys broker in Beckett Bury battle

Following the defection of nine employees from former Country Mutual Insurance Brokers in Bury St Ed...

Following the defection of nine employees from former Country Mutual Insurance Brokers in Bury St Edmunds to Bob Beckett's new start-up, Towergate has acquired Alliance Management, a local specialist broker.

CEO John McLaren-Stewart will be retained, as will the 30 staff and directors. According to Towergate, the Alliance team will work alongside the current Towergate team in Bury St Edmunds to grow Towergate's presence in East Anglia, where it currently has offices in Colchester, Great Yarmouth

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Yutree outlines plans after MBO

Laura Hancock, managing director of Yutree Insurance has outlined plans for the future following a management buyout, including opening an office in Norwich.

Should you sell your broking business to an Employee Ownership Trust?

Tax-efficient exit strategies and staff incentivisation have become hot topics among broker leaders since the recent increases in Capital Gains Tax and Employer National Insurance. In the second part of a series focused on the fallout from the 2024 Labour Budget, Catherine Heyes examines how broker owners can use Employee Ownership Trusts to respond to these developments.

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