Insurance underwriter and broker, Towergate Risk Solutions (TRS), has tripled business growth in just three months since it announced the expansion of its Northern presence with the launch of its Manchester office.
Key account wins for the MIDAS supported business mean that the new office at 1 Portland Street is now managing 18 key accounts, up from six when the office opened in May this year.
TRS has also renewed a three-year contract with the Federation of Small Businesses (FSB) to provide insurance services and products to its 200,000-plus members throughout the UK.
As part of this contract, the firm is advising small businesses in the region to pay closer attention to their insurance renewals, and make sure that they are not paying for unnecessary cover. Premiums are predicted to rise, and free add-on products once given as incentives to attract businesses may now become chargeable.
Mike Shelley, Managing Director of TRS in Manchester, said: “We started from scratch in May, but we are quickly building up a good client base through offering tailored products to sectors rather than providing off-the-shelf products which try to fit all.
“Companies are now looking to cost-cut in all areas including insurance renewals, so we are working closely with firms in the region to ensure that they have the correct level of cover, and are not paying for unnecessary extras that are simply not relevant to their business.”
Sarah Darch, Business Development Manager (Financial & Professional Services) at MIDAS, Manchester’s inward investment agency, which is working with TRS to provide introductions, economic data and recruitment advice, said: “It’s very encouraging to see that TRS is doing so well in just three months since establishing its Manchester office.
“Its move here is a good example of the growing number of financial and professional services companies choosing Manchester as a base for expansion, and enjoying the benefits of the City’s business network.”