Four brokers are forming a network called the Midland Broker Alliance that will control premium income of more than £17m.
Ault Insurance Brokers of West Bromwich, R E Hutt of Coventry, Perry Appleton Risk Services of Rugby and Hallam Green Insurance of Wolverhampton have joined forces under the banner of “All Together Better”.
Key partnerships for commercial business – about 80% of the total portfolio – are now in place and the group is in the process of finding new partners in specialised areas.
“The traditional, separate, roles of broker and insurer are changing,” said Simon Leech, partner in Perry Appleton.
“Working together, brokers can give insurers a greater volume of secure and profitable business and help to reduce their supply-chain costs.
“And MBA members will have the scope to grow their own businesses, thanks to better contracts with improved wordings, special features and support from insurance companies for special projects such as training and IT.”