Divestiture • Insurance

Towergate Insurance Acquires Towergate Underwriting Group

On December 3, 2013, Towergate Insurance acquired insurance company Towergate Underwriting Group from Aon

Acquisition Context
  • This is Towergate Insurance’s 2nd transaction in the Insurance sector.
  • This is Towergate Insurance’s 1st transaction in the United Kingdom.

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M&A Deal Summary

Date December 3, 2013
Target Towergate Underwriting Group
Sector Insurance
Buyer(s) Towergate Insurance
Sellers(s) Aon
Deal Type Divestiture

Target Company

Towergate Underwriting Group

West Midlands, United Kingdom
Footman James to establish a professional insurance broking service specialising in exclusive plans for niche markets.
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Buyer Overview 1

Buyer

Towergate Insurance

Maidstone, United Kingdom

Category Company
Founded 1997
Sector Insurance
DESCRIPTION

Towergate Insurance Ltd. offer personal and business customers specialist insurance.


Deal Context for Buyer #
Overall 2 of 2
Sector: Insurance 2 of 2
Type: Divestiture 1 of 1
Country: United Kingdom 1 of 1
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-26 Dawson Whyte

Belfast, Ireland

Dawson Whyte Ltd, is a insurance brokerage firm in NI with 5 branches.

Buy -

Seller Profile 1

SELLER

Aon

Dublin , Ireland

Category Company
Founded 1919
Sector Insurance
Employees60,000
Revenue 15.7B USD (2024)
DESCRIPTION
Aon's offices in downtown Sydney, Australia.
Aon's offices in downtown Sydney, Australia.

Aon is a provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing. Aon serves clients through two segments, Risk Solutions and HR Solutions. Risk Solutions acts as an advisor and insurance and reinsurance broker, helping clients manage their risks via consultation, as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network. HR Solutions partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance by designing, implementing, communicating and administering a wide range of human capital, retirement, investment consulting, health care, compensation and talent management strategies. Aon was founded in 1919 and is based in Dublin, Ireland.


Deal Context for Seller #
Overall 11 of 23
Sector: Insurance 5 of 8
Type: Divestiture 11 of 23
Country: United Kingdom 3 of 4
Year: 2013 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-12 Aon Multiemployer Defined Benefit Plan

United States

Aon Consulting multiemployer defined benefit plan consulting business in the United States, covering about 60 defined benefit plans in a wide variety of industries located across the country.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-09 Stratford 360

Minneapolis, Minnesota, United States

Stratford 360 has been designing executive deferred compensation and supplemental benefit plans since 1973, and continues its long tradition of providing creative plan designs, cutting-edge products and funding vehicles, and comprehensive administrative support as it has for more than 30 years.

Buy -

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