Division acquires Morgan Brokers and Newbold Barwick Associates

Mark Hodges Towergate

Towergate subsidiary Cullum Capital Ventures (CCV) has bought two brokers – Morgan Brokers and Newbold Barwick Associates – for undisclosed sums.

Towergate chief executive Mark Hodges (pictured) said: “These are well established brokers boasting strong books of personal, commercial and niche insurance business with dedicated staff and great potential for further profitable growth.”

Morgan Brokers

The purchase of Morgan Brokers includes subsidiary company M Wood Insurance Services. Morgan was established in the 1950s and the firm’s holding company was set up in 1992 following a management buy-out.

The firm has offices in Bath, Bristol, Cardiff and Bridgend. It  provides commercial and personal lines insurance to SME customers and niche markets including medical, charity and private hire.

Steve Thorrington will remain with the business as managing director together with all 40 staff. The business will form part of CCV’s south region under the leadership of regional managing director, Joe Simmons.

Newbold Barwick Associates

Newbold Barwick Associates, based in Leamington Spa, is a wholly owned subsidiary of Higginbotham Egan Insurance Services.

Managing director Gerry Higginbotham will continue with the business in a part time consultancy capacity. All remaining members of staff will continue under the leadership of Paul Twitchett, managing director of CCV’s Three Counties unit.