Towergate Group has acquired Lloyd's broker, Hayward Aviation
Towergate Partnership has bought Lloyd's broker Hayward Aviation, the UK’s largest general aviation broker.
All 80 of its staff and senior management will join the Towergate Group.
Towergate said Haywards became a Lloyd’s broker in 1992 and controlled premiums in excess of £75m for private and commercial aviation risks.
Peter Cullum, executive chairman of Towergate commented: “This is an exciting opportunity for Towergate.
"Haywards is a first class business that fits our profile of leading expertise, high quality people, and growth potential.
"It will expand significantly our aviation offering at Towergate where it already has an excellent trading relationship with Towergate Hall & Clarke.
"The combination of these two businesses will form an unrivalled capability in the European general aviation market”.
Guy Holland-Bosworth, managing director of Hayward Holding Group added: “Towergate is a natural partner for us. It is a truly entrepreneurial, growth-orientated business which puts its customers first.
"Its outstanding distribution capabilities will enable our business to go from strength to strength.
"I believe that this transaction will secure the best possible future for both our customers and our staff”.