News analysis: Employee ownership – how does it work for brokers?
Towards the end of 2023, Thomas Carroll became the latest broker to become employee-owned. Ida Axling looks at the benefits of the model for intermediaries and how the sale of Ten to Acrisure busted one myth that they cannot be sold.
Just over 1,400 UK businesses had adopted employee ownership as of 2023, according to the Employee Ownership Association, but despite its rising popularity, it remains an unusual model for insurance brokers.
One broker that has gone down this route is Thomas Carroll Group. In late 2023, it created an Employee Ownership Trust (EOT) to hand over the reins to its staff.
CEO Rhys Thomas said the broker wanted to “make a statement that not everybody has their price” and explained that the decision
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on People
Everywhen CEO Rob Worrell to retire at year-end
Rob Worrell, CEO of Everywhen, has decided to retire at the end of 2026, Insurance Age can reveal.
Johnson out and Houghton in as PIB reshapes COO role
PIB Group has appointed Rob Houghton to the new stand-alone role of group chief operations officer.
Graham Gibson joins Sicsic
Sicsic Advisory has appointed former Allianz claims boss Graham Gibson as a senior consultant.
Biba 2026 Countdown: MGAA’s Mike Keating
Managing General Agents’ Association CEO Mike Keating advocates working more closely with clients and is looking forward to the energy, atmosphere and opportunity to network on Wednesday morning at the event.
Ex-Marsh UK CEO Lay joins Ardonagh
Ardonagh has added former Marsh UK CEO Chris Lay as operating partner of Ardonagh Capital Partners, joining the group executive and working across the firm’s portfolio of companies.
Ripe gears up for growth more than doubling Greater Manchester office footprint
Digital managing general agent Ripe has upgraded from a 60 seat office to a larger workspace that can accommodate 150 staff, reinforcing its commitment to Greater Manchester.
Biba 2026 Countdown: Granite’s Alistair Rose
The countdown has started and in a month’s time it will be day two of Biba 2026. Alistair Rose, managing director at Granite, pitches quality over quantity when it comes to Biba Conference interactions, not least during the more chilled out Thursday when the vibes allow time for deeper connections.
Biba 2026 Countdown: Pen Underwriting’s Nick Milton
With the Biba Conference 2026 kicking off a month today Nick Milton, head of sales and distribution for the UK and Europe at Pen Underwriting, looks forward to the early morning calm before the storm and gives advice on how to avoid doing 20,000 steps that result in achieving very little.