Willis Commercial plans intermediary acquisition campaign.
Willis Commercial Network will embark on a campaign next year to help its regional broker membership...
Willis Commercial Network will embark on a campaign next year to helpits regional broker membership to acquire smaller intermediaries and
brokers seeking to sell-up.
Hugh Warren, chief executive of Willis Commercial, told PB he believes the
regulatory environment and tighter agency requirements, resulting from
mergers and acquisitions, will force many intermediaries below the £1m
gross written premium mark to exit the market.
"The message I want to get to these intermediaries is that we will be able
to offer them a very good solution that will be attractive for both them
and their business," said Mr Warren. He was unable to give further details
at this stage, but said Willis would be promoting the campaign through the
trade press and direct marketing.
The Willis Commercial Network has just signed up its 40th member. The
network now has 32 trading members, and eight in induction. It expects to
have 37 trading and 45 signed up by the end of the year.
Mr Warren said that the network will stop actively recruiting when it has
signed up its 50th broker. It expects to do so by early next year, and to
have all 50 trading by June. "This will probably leave us with a further
10 in the pipeline, and so we are likely to end up with between 55 and 60
members. If, at the end of all this, we still have any geographical
territories left outstanding, we will fill them by letting brokers
approach us."
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