Outgoing Biba chief executive Mike Williams has unveiled plans for his new 500-member network, Total Broker Solutions (TBS).
TBS is backed by majority shareholder Bob Beckett, who will chair the n ...
Outgoing Biba chief executive Mike Williams has unveiled plans for his new 500-member network, Total Broker Solutions (TBS).
TBS is backed by majority shareholder Bob Beckett, who will chair the network, which is a separate entity to The Beckett Group.
"I am delighted to back Mike," Beckett said. "It became evident that lots of smaller brokers are going to struggle, so we thought why not do something about it."
Williams, who will be chief executive of the venture, said the network was aiming to attract 500 small commercial brokers, each with premium income of £2m-£6m and was forecasting total premium income of £1.5bn within two years.
Williams said the strategy did not involve owning brokers. Instead, the network would take revenue of around 2.5% of gross written premium from each member.
TBS already has the support of AXA, Royal & SunAlliance, Zurich, Norwich Union and Allianz Cornhill. They will provide network members with preferential terms.
The network will be based around Cambridge and run by a small team provided by The Beckett Group. The TBS website (
www.t-b-s.info ) went live this week and the network will be officially launched through a series of roadshows in eight locations across England, Scotland and Wales in the autumn, but Williams said he already had pre-commitments from "a handful" of brokers.
Williams, who is contracted to serve six months notice at Biba, said it had not yet been determined when he would begin full time with TBS. "It's going to be several months."
