The Towergate Charitable Foundation has announced that it surpassed its annual fundraising record last year by raising a total of £1,484,439.

Independently-owned insurance intermediary Towergate has contributed more than £5m towards its four main charity partners – Cancer Research UK, ChildLine, Great Ormond Street and Help the Hospices – since 2005. It launched the Foundation in 2008 and has raised more money with each passing year, most recently £1.2m in 2010 and £1m in 2009.

The Foundation also comprises Towergate Wilsons, which supports eight military-related charities to help the UK’s servicemen, women and their families, and local charities such as Zoe’s Place Baby Hospice, Willen Hospice and Breakthrough Breast Cancer.

Its 2011 projects included donating more than £586,000 to local hospices including £540,000 to Help the Hospices itself; helping to fund over 300 new ChildLine counsellors with a £500,000 donation; and contributing towards the cost of two new isolation units at Great Ormond Street children’s hospital.

Michael Rea, CEO of Towergate Insurance’s retail division, said that its 2012 target is to raise over £2m. "I wish to thank my colleagues and our clients for their outstanding contribution to these great charities," he said. "In these tough economic times both our staff and clients have defied the odds by going the extra mile to raise money through a range of local fundraising events."