Broking group targets £500m GWP by end of the year.
Brokerbility has added two brokers and moved a step closer to achieving its £500m GWP target by the end of the year.
Brokers Alan & Thomas in Bournemouth and Walmsleys Commercial in Wigan have both joined the group and will be added to the South East and North West regions respectively.
The independent broking group now consists of over 30 brokers and plans to have £100m GWP in each of its five regions, the North West, North East, the East Midlands, East Anglia and the South East, by the end of the year.
Stuart Randall, director of Brokerbility, said the group would close membership in the regions where it currently operates.
“The importance of Brokerbility is retaining the integrity of the model,” he said. “To go too far too fast is something that we do not wish to do. We do not want to start stretching the model.”
The group attracts brokers between £12m GWP and £25m GWP and Randall said it is possible it could open up in new regions.
“There is potential in every region,” he said. “We have a strategy and a plan to put in to place that we wish to achieve and we will stick to it.
“Brokerbility works best when there are five or six brokers in a region. We need to have a critical mass in each region for it to be successful.”
He added: “Brokerbility attracts a certain broker who does not want to become part of a network or sell.”
He revealed that the group expects to announce a number of new additions in the near future and said it is possible it could now target the South West. “We have been speaking to a number of people in the South West for a while. But it is a difficult area because of the strength that Jelf has and we are not sure if there are enough brokers down there to do it,” he said.