Ten to follow John Lewis with Employee Benefit Trust set up
Ten Insurance is set to follow in the footsteps of John Lewis and set up an Employee Benefit Trust (EPT) over the coming weeks.
Insurance Age can reveal that the network for independent commercial brokers has already joined the Employee Ownership Association (EOA) as part of the first stage of the move.
The EBT will be vested with 6,500 shares which will be owned by the trust and managed by five trustees.
Speaking to Insurance Age, James Sharp, Ten director, said: "This has been in our minds for some years, we have been working our way towards this.
"The aim is that by the time I retire the company will be owned by its
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