Elliot Lane - Exclusive
Towergate is poised to make its biggest acquisition to date, worth an estimated £200m.
According to sources, the deal could take place in the next week and involves a company in the "North West".
Rumours surround Swinton Insurance as the possible target, but one source said: "It will involve a company that is not in the insurance pool Towergate normally fishes in".
A major IFA network or building society has been touted.
But Cheshire Building Society, which is one of the largest private medical insurance providers in the region, may be too big to swallow.
Its turnover is estimated at £168m which would put its sale price above the £200m mark.
A Towergate spokesman said the company would not "speculate on market gossip".