Banks to offload 10% of Brightside holding

Brightside director Arron Banks

The move was revealed by the company as part of a programme where along with finance director, Paul Chase Gardener, Mr Banks will be investing in an insurance company backed by major reinsurance capacity with a view to securing further capacity to support the expansion of the company's broking business.

The news came as Brightside released a trading update for the six months to 30 June 2011 which revealed the directors expected the financial performance of the company to exceed consensus

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