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Commercial GI deal for Bankhall

Bankhall has sold its commercial general insurance arm UKGI to Total Broker Solutions to focus on its core markets of directly regulated mortgage, life, pensions and investment.

The agreement brings a reciprocal agreement for TBS to provide Bankhall members with commercial GI services while TBS’s 350 brokers will get compliance support from Bankhall.

Head of Bankhall GI Mike Williams will move to TBS with a small number of support staff.

TBS chief executive and former CII president Bob Beckett says: “We are pleased to have completed this deal. The market is ready for a service as complete as the one we can offer and, with Bankhall providing the compliance support, we know we have a quality partner on board with us.”

Bankhall chief executive Peter Mann says: “The service to our members will be seamless.They will not need to change anything. All they need to do is to keep writing the general insurance business as they did before. Someone from TBS will be in touch with each member in the near future to outline their services. We are confident that it will be an attractive proposition.”

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