Brokers have the chance to invest in a new Lloyd's vehicle following a series of roadshows in late March and early April.

The yet-to-be named operation is seeking to become the first Lloyd's managing agent/syndicate to be majority-owned by brokers.

The new company hopes to start with a capacity of £30m. To achieve this, £3m investment needs to be found.

The founders of the company are, George Higginson, ex-lead underwriter at Link, and Steven Windich previously of Wellington. Together, they will host six seminars to explain how brokers can purchase a stake in the new concept, and what the benefits will be.

The events will be held in Glasgow, Leeds, Manchester, London, Bristol and Birmingham.

Terry Wellard, chairman of Lloyd's wholesale broker Edgar Hamilton, will be opening the talks.

Higginson said: "We feel that the biggest challenge facing brokers today is the continuing reduction in the business channels available to them.

"The creation of this concept is a way to help the broker create an insurer that is dedicated to them, while enabling them to share in the profits at every stage."

Higginson's syndicate will start by selling three motor lines: two private car products, and one small fleet. Next will come high-net worth household insurance.

If these launches are a success, then ideally the company will seek to enter the commercial property arena.

There is a minimum investment level of £2000. This will create £20,000 capacity. The company can also accept letters of credit in lieu of cash.

Higginson said: "Brokers who invest will be given agencies. We are looking for professional intermediaries. There are so many people who are desperate for markets, I believe this will be a very attractive proposition."

Higginson believes the new operation will start trading by July 1, this year.