Network wants to double in size this year and then keep growing

Broker network Momentum has signed up 23 members after its first year of trading and wants to sign another 25 by the end of this year.

“We will not set limits on how rapidly and how big we can grow to be,” Momentum managing director Howard Pepper said.

Momentum now has members across the UK, which typically control between £100,000 and £1.6m premium a year.

Network members concentrate on commercial combined, professions and high net worth personal lines business.

Momentum uses an appointed representative structure for its members, which are generally start-up and independent brokerages. Many members have joined Momentum to start up their own business after leaving consolidators.

“There do seem to be a lot of disenfranchised people working for those organisations,” Pepper said.

The first brokerages to join were Anthony James Insurance Brokers and WML Insurance, both in January last year.

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