News analysis: Employee ownership – how does it work for brokers?
Towards the end of 2023, Thomas Carroll became the latest broker to become employee-owned. Ida Axling looks at the benefits of the model for intermediaries and how the sale of Ten to Acrisure busted one myth that they cannot be sold.
Just over 1,400 UK businesses had adopted employee ownership as of 2023, according to the Employee Ownership Association, but despite its rising popularity, it remains an unusual model for insurance brokers.
One broker that has gone down this route is Thomas Carroll Group. In late 2023, it created an Employee Ownership Trust (EOT) to hand over the reins to its staff.
CEO Rhys Thomas said the broker wanted to “make a statement that not everybody has their price” and explained that the decision
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