The Movo Partnership has greeted seven new appointed representative (AR) members into its fast-growing network this month, including a new broker start-up and dealers from other networks.
Trinity Indemnity, a commercial broker based in Midlands, has joined Movo, where it will focus on its current book and execute expansive growth plans. Commercial and personal lines broker PHY Insurance Service – a new, London-based start-up – is likewise joining the partnership.
Rounding up Movo’s new seven are Colin Halliday, previously a compliance officer and broker relationship director for system Ten Insurance; Scotland-based commercial broker Anderson Smith; Lancashire-based commercial broker Infina; Clipeus, a tech broker specialising in bespoke commodities for household brand names; and MNK Re Specialty, dealing with UK retail clients with global risks.
The improvements bring Movo’s total number of AR members this year to 55 and a total GWP of £50m, a step is closer to its original target of 75 partners and £65m GWP by year-end.
“It’s hugely exciting and rewarding to see so many independent brokers joining us,” said managing director Lea Cheesbrough. “The statement is getting out there that we are not like other networks. We’re committed to ensuring small independent brokers survive and thrive. For brokers looking for a way of growing their brokerage without selling out to the consolidators or giving up their hard-earned income for little value in return, we give them real options and ideal home.”
Movo members retain 100% of commissions. Any profits generated by the network are reinvested for the benefit of the membership and the future of broking, furthering the partnership’s vision as the most cost-effective way to run a brokerage and encouraging new start-up brokers, replacing brokerages in the market being lost to M&A activity.