Fifty employees shed from Bournemouth branch that failed to flourish in competitive field

Towergate has shed 52 jobs after closing offices in Bournemouth and York.

Fifty staff have been cut from Bournemouth Towergate Risk Solutions (TRS), which closed in January, while two employees have left Towergate Agency Management (TAM) in York, which will close at the end of next month.

A spokesman for the company, chaired by Peter Cullum, said Bournemouth TRS dealt in high-volume, low-premium insurance, as well as affinity partnerships, but failed to flourish in “a very competitive field”.

The remaining few staff agreed to relocate to Riskline, the company’s Surrey-based SME commercial broker. It is currently recruiting to handle its new business.

Five staff from TAM have been found new jobs in Broker Network, which is also owned by Towergate.

Stephen Duffy, the former managing director of TAM, had already left for Countrywide when the decision was made to close the office. He has now left Towergate altogether.

He said: “In light of various changes that are being implemented within Towergate Group, I believe now is the right time for me to leave the company to further my career.

“Leaving is a hard decision but I feel that this change of direction provides me with an ideal opportunity to move on. I have thoroughly enjoyed the journey and the experience I have gained will prove invaluable.”

As reported in Insurance Times last month, Towergate’s offices in the Midlands have also had a shake-up. Twelve jobs were shed as part of the company’s decision to move its administrative offices from Shrewsbury to Stoke. In January, managers at its retail division in the south were replaced by graduates from Towergate’s business school.