We venture now into the land of the City Fat Cats where hardship means being down to your last billion and the only signs of a recession are more applications for every post you advertise and a wider choice of lapdancer.
Towergate Partnership was founded in 1997 and is Europes largest independently-owned insurance intermediary. Towergate operates through five main areas of operation: Broking (Towergate Risk Solutions), Underwriting (Towergate Underwriting), Networks for independent brokers, Towergate Financial and Paymentshield.
Since 1997, when Towergate entered the insurance market, they have become Europe's largest independently owned insurance intermediary turning over more than £2 billion of gross written premium across their companies. Towergate offer general and specialist insurance for niche markets ranging from holiday homes to private helicopters. Towergate are also the most significant insurance provider to the UK SME market.
In February 2010 for a nominal sum, Towergate bought the John Charcol mortgage broker out of administration, taking with it IT systems and more than 100 staff.
Peter Cullum is a Norfolk born businessman, the executive chairman of Towergate Partnership. His personal fortune is estimated most recently at £1.7 billion.
Cullum began his insurance career in 1969 with the Royal Insurance Group and progressed to sales and marketing positions within Commercial Union and ITT London and Edinburgh where he became marketing director in 1988. At the age of 21, he became the youngest person to pass the Chartered Insurance Institute fellowship examinations. In 1991, Cullum joined Economic Insurance and led their return to profitability in 1993. In December 1993, he led the management buyout of Economic Insurance that was sold in 1995 to Hiscox plc. He joined Hiscox as group marketing director, a role he held until he left in 1997 to create Towergate Underwriting Group.
On 18th October, Peter Cullum signed an open letter calling on the Chancellor to continue the coalition government's plans to reduce the public finance deficit in one term, plans which included swingeing cuts on the poorest members of society and which risk pushing this country into a double-dip recession, the likes of which has not been seen since the last time the tories took power and tanked the economy in the early 80's.
For this reason Peter Cullum is considered to be a fully signed up member of the Big Business Society and we urge people to boycott all Towergate businesses.
The Co-op Financial Services will cover all your insurance needs without feeding your hard earned money to fat cats like Peter Cullum.
Added 2nd September 2011. Towergate also trade under the name Insurance4carhire. Please boycott this brand as well.