Daily Insurance Industry News
 
 
Daily Insurance Industry News
Monday 22nd of January 2018
February 7, 2008

Brokerbility gains five brokers

by Gill Montia

Story link: Brokerbility gains five brokers

Brokerbility is continuing its development with the addition of five new brokers to the group.

Those joining are: Caunce O’Hara of Manchester (GWP £17 million); Churchill Insurance Consultants of Hendon (£12 million); Norman Butcher & Jones of London (£25 million); McMurdo Potipher & Webb of Maidstone (£16 million) and Richmond House Group in Stevenage (£22 million).

The additions bring the group’s total GWP to just under its £400 million target set at the end of 2007.

Brokerbility’s business model is complex. It allows brokers to remain independent and involves a share swap arrangement with the group’s holding company.

It is targeted at the “baby boom generation” of brokers between the ages of 47 and 55.

The group now comprises five regions – North East, North West, Eastern England, South East and the East Midlands.

It expects to complete the fourth phase of its development by the end of the second-quarter of 2008 and in doing so achieve GWP of £500 million.

Stuart Randall, director, of Brokerbility believes that the group has the potential to grow significantly in the coming year because of its appeal to brokers that are strongly independent and do not wish to sell, but may be too big for a network.

He explains: “Brokerbility seems to be unique within the industry as it is neither a consolidator nor is it a network or an Alliance.”

 

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