OverviewSuggest Edit

Towergate Insurance is an insurance intermediary that offers various general and specialist insurance products for niche markets ranging from holiday homes to private helicopters. Its personal insurance products include boat, caravan, home and property, life and planning, military, motor, and more personal solutions; business insurance products include care and medical, financial, liability, property, trade specific, transport, and other business solutions. The Company also provides specialist insurance products for brokers in the areas of agricultural, caravan and park home, care home, cherished car, commercial property, commercial, holiday homes, household, let property, liability, London market, marine, personal accident, photographic, transit and cargo, transportation, and travel, as well as entertainment, leisure, and events. 

TypePrivate
Founded1997
HQSevenoaks, GB
Websitetowergate.com

Locations

Towergate Insurance is headquartered in
Sevenoaks, United Kingdom

Location Map

Latest Updates

Employees (est.) (Feb 2020)1,700(-2%)
Job Openings78
Revenue (FY, 2018)£198.4 M(-1%)

Towergate Insurance Office Locations

Towergate Insurance has offices in Sevenoaks, Aberdeen, Ammanford, Bargoed and in 53 other locations
Sevenoaks, GB (HQ)
26-28 Pembroke Road
Aberdeen, GB
Bon Accord House, Riverside Drive
Ammanford, GB
44 College Street
Bargoed, GB
58 Hanbury Rd
Barry, GB
186-188 Holton Road
Belfast, GB
Elizabeth House, 116-118 Holywood Road
Show all (57)

Towergate Insurance Financials and Metrics

Summary Metrics

Founding Date

1997

Towergate Insurance total Funding

$322.5 m

Towergate Insurance latest funding size

$322.47 m

Time since last funding

9 years ago

Towergate Insurance investors

Towergate Insurance's latest funding round in February 2011 was reported to be $322.5 m. In total, Towergate Insurance has raised $322.5 m
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Towergate Insurance Revenue

Towergate Insurance's revenue was reported to be £198.44 m in FY, 2018
GBP

Revenue (FY, 2018)

198.4m

Net income (FY, 2018)

(41.3m)

EBIT (FY, 2018)

(46.4m)

Cash (31-Dec-2018)

94.5m
GBPFY, 2015FY, 2016FY, 2017FY, 2018

Revenue

195.9m194.2m201.5m198.4m

Revenue growth, %

(1%)4%

Operating expense total

243.2m218.0m252.0m

Depreciation and amortization

2.8m
GBPFY, 2001FY, 2002FY, 2003FY, 2004FY, 2005FY, 2006FY, 2007FY, 2008FY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

419.4k2.0m13.1m24.8m77.9m122.9m133.5m102.6m37.6m82.7m102.2m95.4m114.0m92.5m113.2m76.6m87.5m94.5m

Accounts Receivable

3.0k104.3m113.5m114.9m118.9m130.1m139.8m139.8m20.6m29.8m10.0m12.5m17.0m17.4m

Prepaid Expenses

5.8m6.9m

Inventories

GBPFY, 2001FY, 2002FY, 2003FY, 2004FY, 2005FY, 2006FY, 2007FY, 2008FY, 2009FY, 2010FY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

2.2m1.7m(329.0k)1.9m4.0m(232.7k)(4.5m)(7.0m)(4.1m)233.5k6.6m12.2m30.3m(161.8m)(41.9m)(23.9m)(54.2m)

Dividends Paid

3.1m5.0m
GBPY, 2018

Revenue/Employee

90.1k

Debt/Equity

0.5 x

Debt/Assets

0.3 x

Financial Leverage

1.8 x
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Towergate Insurance Operating Metrics

FY, 2015FY, 2016

Gross Premiums Written

£998.60 m£917.70 m
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Towergate Insurance Revenue Breakdown

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Towergate Insurance revenue breakdown by business segment: 98.1% from Commission and Fees and 1.9% from Other

Towergate Insurance Online and Social Media Presence

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Towergate Insurance Frequently Asked Questions

  • When was Towergate Insurance founded?

    Towergate Insurance was founded in 1997.

  • How many employees does Towergate Insurance have?

    Towergate Insurance has 1,700 employees.

  • What is Towergate Insurance revenue?

    Latest Towergate Insurance annual revenue is £198.4 m.

  • What is Towergate Insurance revenue per employee?

    Latest Towergate Insurance revenue per employee is £116.7 k.

  • Who are Towergate Insurance competitors?

    Competitors of Towergate Insurance include Prima.it, Intact Financial and RSA Insurance.

  • Where is Towergate Insurance headquarters?

    Towergate Insurance headquarters is located at 26-28 Pembroke Road, Sevenoaks.

  • Where are Towergate Insurance offices?

    Towergate Insurance has offices in Sevenoaks, Aberdeen, Ammanford, Bargoed and in 53 other locations.

  • How many offices does Towergate Insurance have?

    Towergate Insurance has 57 offices.