Insurance intermediary Towergate has increased its power by buying up another firm of brokers.

It has swallowed Kent-based Woodgate and Partners, a general commercial and financial services broker, which handles around £8 million worth of gross written business.

Woodgate's chief executive, John Harrison, will continue at the helm of his team, which will be based in Maidstone.

The firm specialises in affinity schemes for exhibitions, events, salons and beauticians and was granted approval as a Lloyds broker in 2007.

Peter Cullum, executive chairman of Towergate, told the Insurance Times magazine: "Woodgate & Partners is a very good fit with our profile.

"They are a well-run team that will strengthen our portfolio of affinity schemes business."

More than £1.5 billion worth or gross written business is controlled by Towergate - Europe's largest independently owned insurance organisation.

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