News & Insights

FSP advises Towergate Underwriting on latest insurance acquisition to strengthen Welsh footprint

The corporate team at FSP led by corporate partner Philip Stephenson has advised Towergate Underwriting Group Limited on its recent acquisition of the business book of Swansea based independent insurance broker, Murton Alexander Insurance Services.

Founded in 1972, Murton Alexander specialises in commercial and personal insurance lines with particular expertise in taxi cover.

From completion of the acquisition, Towergate has acquired the exclusive right to renew Murton Alexander’s existing policy book and Murton Alexander’s team, including its MD, Rob Pountney, have transferred with the business to Towergate.

Gary Stevens, Towergate’s Area Director, commented “This acquisition marks an exciting opportunity to bolster our local footprint in the area and to strengthen our existing taxi specialism building on our combined capabilities, relationships and knowledge.”

On working with FSP, Gary said “it was a pleasure working with Philip and the rest of the FSP team on this acquisition. The transaction structure evolved during the process yet FSP’s approach was very responsive and supportive throughout as well as providing sound commercial advice. We look forward to working with FSP again in the future.”

Philip Stephenson (partner, corporate) led the team.