BrokersLink, one of the world’s largest independent insurance broker networks, announced that it is “changing its constitution from a not-for-profit association to a for-profit global broking company to accelerate growth and invest in enhanced association support capabilities.”
The change was announced at its Annual General Meeting in Singapore. “BrokersLink members formally approved the transformation to a Swiss domiciled company and the closure of current association in early 2014,” said the announcement. “The initial capital will be provided by MDS, Crystal & Company, Filhet-Allard, Nova and Cooper Gay.”
The bulletin explained that in addition to “creating a platform for revenue generation and growth, the new company structure will enable BrokersLink to invest in dedicated and centralized management resource, marketing and branding. A new website and logo were unveiled at the conference to mark the first stage in the development of the new company.”
BrokersLink Chairman José Fonseca, told attendees at the meeting: “The formation of a BrokersLink company is one of the most important strategic milestones in the history of the network and will transform us into a truly global broker.
“While we have grown to 70 members in almost 100 countries working from 300 offices globally and managing premium volumes in excess of $14 billion without direct investment, the ability to attract capital and generate our own revenue will help us to drive growth in existing markets and enter new ones much faster.”
BrokersLink’s fifth annual global conference is being held in Singapore on the 17th and 18th of October. With a focus on reinventing the future, over 200 delegates from 45 countries are expected to attend.
The first day of the conference (Thursday, 17 October), which is for BrokersLink members only, will focus on building partnerships with insurers and utilizing technology to enable independent brokers to win global business when competing against multinational rivals.
Friday, 18 October is the main conference day and will be open to non-members. The themes covered will include the increasing importance of corporate social responsibility, emerging reinsurance trends and new opportunities in Asia.