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Towergate Partnership announces the acquisition of Insurance 4 Car Hire Agents Ltd
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Towergate Partnership announces the acquisition of Insurance 4 Car Hire Agents Ltd


16th January 2008

Towergate Partnership announced the acquisition of Insurance 4 Car Hire Agents Ltd (I4CH), an internet based insurance agency providing specialist insurance products for the car rental market. I4CH will form part of Towergate's Retail Division headed by Amanda Blanc.

I4CH is the UK's leading internet based insurance business providing niche insurance products for customers using the car rental market. Founded 5 years ago I4CH provides customers a number of products designed to insure against the high excess that can be charged by car rental companies when hiring a vehicle. It's products offering includes cover for damage to windows, tyres, roof and the undercarriage of the vehicle, which tend to be general exclusions of car rental agreements.

The acquisition of I4CH provides Towergate access to a successful internet based business where all sales and fulfilment are carried out online. This will help Towergate strengthen its online capabilities and build its expertise further in the distribution of consumer products online.

Peter Cullum, Executive Chairman of Towergate said, "This is a business with a great track record and significant growth potential. It's yet another great signing for Towergate which will help strengthen our online capabilities and product offering to customers".

More about Towergate

Towergate was established in 1997 to provide insurance in niche markets ranging from holiday homes to cherished cars. They have expanded and broadened our products range to over 200 - the widest range of specialist and traditional products in the UK market.

Towergate is now Europe's largest independently owned insurance intermediary. They have over 3,500 committed staff operating out of 100 UK offices. Towergate's reputation for innovation, progression and dynamism is backed up by recognition from the Sunday Times as a Profit Track 100 company. Their Executive Chairman, Peter Cullum is a former winner of the ‘UK Entrepreneur of the Year' award and is the current M&A ‘Deal Maker of the Year'.

Source: Towergate


 

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