Howard Pepper's new firm to help launch new brokers

The former managing director of Oval Insurance Broking, Howard Pepper, has returned to the market to launch Momentum.

Midlands-based Momentum is described as a "support and development service for new and existing brokers" and will help launch start-up brokers.

Pepper's role at Oval was made redundant last year in a move to control its cost base during the financial crisis. It resurrected the role earlier this year. Before Oval, he was a managing director at Marsh.

Momentum was granted FSA authorisation last week and has appointed a new team.

The company said it will help individuals looking to launch broking businesses as well existing insurance brokers looking to start up.

Managing director Pepper said: “We will provide a customised, personal service from a highly experienced team that will help start-up businesses, existing Appointed Representatives and small independent brokers release their full potential. They will be able to grow their business but remain strongly independent. We are also well positioned to provide that additional support would-be start-ups need to take that big step into a business of their own."

He continued: “Where in the past the next step for an account executive might have been to start their own business, the administrative and compliance burden now facing independent brokers can be a major barrier and potential drain, both on resources and creativity. Momentum will provide the freedom to concentrate on taking care of their clients.”

Momentum said it has already received strong interest and expects the first signings to be made "within days".