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By shaun Lowthorpe Business editor
Monday, December 3, 2012
Towergate Insurance today sealed the deal on its buyout of Norwich and Peterborough Insurance Brokers signalling the latest phase of a move to increase its presence in the region.
Established in 1996 following a previous acquisition from Halstead Insurance Brokers, Norwich and Peterborough Insurance Brokers (NPIB) was the non-life insurance operation of the N&P.
As part of the acquisition, 60 staff currently based in building society branches will be relocate to Towergate Group offices, while Steve Kendall, sales and operations director of NPIB will continue to lead the business.
The move follows a strategic review by Yorkshire Building Society, which took over the N&P last year, and a decision that all general insurance products offered by the society would be provided through RSA Group.