During a recent interview with Insurance Business, Towergate Insurance Broker’s CEO Joe Thelwell highlighted that the business is excited about the M&A deals it is doing to develop its specialisms and talent pool. Today Towergate has announced it is strengthening its footprint in Wales with the acquisition of assets from Murton Alexander Insurance Services Ltd.
Founded in 1972 by Robin Pountney, whose son Rob Pountney (pictured right) is now MD of the business, Murton Alexander is one of the longest-serving independent insurance brokers in Swansea, Wales. Its five-person team, which specialises in commercial and personal lines insurance, as well as taxi cover, will transfer along with the associated books into Towergate’s existing Swansea office, led by area director Gary Stevens (pictured left).
Commenting on the deal, which is expected to bolster Towergate’s local footprint, expertise and reach, Stevens noted that Pountney and his team are renowned as specialist local brokers and bring a wealth of knowledge about the Swansea community. Combining this expertise with Towergate’s existing team will help the brokerage meet the ever-changing needs of local clients.
“This acquisition also marks an exciting opportunity to strengthen our existing taxi specialism,” he said, “building on our capabilities, relationships and knowledge.”
Meanwhile, Rob Pountney highlighted that Towergate prides itself on delivering clients high-quality service with a local, community-focused touch, which ties in closely with what Murton Alexander strives to deliver for its customers.
“I see this as a great opportunity to come together to build our presence in Wales,” he said, “and also to tap into the strength and stature of the Towergate brand, its proposition and insurer relationships, to collectively build more long-standing relationships with customers and deliver great outcomes together.”