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Bankhall sets up new firm in move on GI market

Bankhall is entering the general insurance market with the launch next month of Bankhall UK GI following the acquisition of GI broker support firm Total Broker Solutions.

Bankhall says it is championing a return to the composite model, where intermediaries, particularly IFAs and mortgage brokers, will be able to sell GI products and says it will revolutionise the UK financial services industry.

Bankhall says the strategy will open up an untapped revenue stream for advisers.

Mike Williams, former TBS chief executive and former chief executive of the British Insurance Brokers Association, joins Bankhall UK GI as head of general insurance.

Chairman and majority shareholder Bob Beckett, who is president of the Chartered Institute of Insurers, will join Bankhall as a non-executive.

Bankhall commercial development director Shaun Godfrey says: “Mike brings a wealth of experience in GI broking. He will be invaluable in building the GI side of the Bankhall operation.”

Williams says: “We are ent-ering a new era for general insurance broking and I am delighted to be a part of it with Bankhall. I firmly believe that the Bankhall concept brings a wealth of new opportunities for general insurance brokers, mortgage brokers and IFAs to grow their business.”

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