Plans to raise £665m on bond markets on hold

Towergate has delayed its plans to raise 665m from investors for four to six weeks because of volatility in the bond markets.

Chief executive Andy Homer told Insurance Times the troubles in the Eurozone and the hung parliament had driven up the cost of debt by one per cent, which would equate to an extra £6.5m in interest per year.

He said Towergate would return to the market if prices had fallen back to their previous level in four to six weeks, adding: “We don’t have to do it.”

He said Towergate’s current banking arrangements remained in place.

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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

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Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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