Allianz Insurance is "delighted" with the new partnership it has forged with Towergate, it has announced.

The deal, which will see the car insurance provider underwrite risks within the latter's small business product range - and come into effect from February 1st - is predicted to create a total of £1.8 million in its first 12 months of existence.

Jason Howes, small business development manager at Allianz Commercial, said the cooperation between the two firms is demonstrative of the firm's small business proposition strength, as well as its desire to enhance its credentials as a market participant.

"We are delighted that Towergate have selected us as the company able to provide them with the range of products and levels of service they require," he added.

Meanwhile, Julie Walker, the managing director of Towergate Northampton, said Allianz "stood out" as truly understanding the firm's needs and objectives.

Towergate states it is the largest independently owned insurance intermediary in Europe.

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