Broking holds back Towergate in Q1
Towergate Insurance's Q1 figures show that its broking business suffered as overall group income was up 2% to £105.5m (2011: £103.3m) and group operating earnings were up 9% to £34.3m (2011: £31.4m).
Towergate said that its operating earnings margin was up 2% to 32.5% (2011: 30.4%).
Retail division income was down 4% to £60.5m (2011: £62.8m) with operating earnings down by 8% to £15.6m (2011: £17
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