Brokerslink, the global broking firm which began life as a network of brokers in 2004, is positioning itself as a viable alternative to insurance’s dominant top brokers.
Having evolved into a full-service broking and risk management company last year after completing a private stock offering in October, the firm is looking ahead at expanding its global reach and investing in its shareholders, its CEO told Insurance Business.
After a successful first stock offering last year, the company is now focusing on consolidating its unique business model, and may consider a second offering next year, José Manuel Fonseca said during an interview at Brokerslink’s annual conference in Marrakesh.
“We now have partners that have become investors, who have put their money in the company,” he said of the company’s dozens of shareholders spanning five continents. “That is important in terms of mindset, in terms of alignment, in terms of motivation to work inside Brokerslink.”
A potential second offering would raise more capital, enable those who were not eligible to invest last year to do so, and help create a more robust company, Fonseca explained.
But as well as receiving investment, the business would also like to invest back into its shareholders too.
“This was our first step… I think we need to go further. In our plans, ideas, and vision, we want to reach a moment where we can also do it the other way around – so we can invest in our network and in our partners… We’d love to reach a situation where we could invest in and buy strong but minority positions in some of our partners,” the CEO said.
As well as creating a new revenue stream for Brokerslink, it would help strengthen bonds within the company and could help its partners avoid consolidation, according to Fonseca.
“If our partners are our shareholders and we are their shareholders, the alignment is really strong,” he said. “We also think that we can be a capital alternative, a financial vehicle, for some of our partners, our brokers, and help them to not be consolidated or swallowed by others. That’s important for us and important for the market.”
Brokerslink may also look at creating new companies, likely in Africa, a region it is focusing on for expansion: “There is great potential. We have some quite successful operations in Africa and we want to grow that. It’s very important to us,” Fonseca said.
For now, the CEO wants the industry to know that Brokerslink can be a real alternative for international clients.
“We have the people, the skills, the reach, the knowledge and the access to the market and the carriers,” Fonseca said, adding that the company’s global presence means it has access to expertise in every country it operates in.
He said: “It’s a different DNA, we have less legacy, we are not so heavy. It’s a much simpler organisation… We are organised in a different way, and I think because of that we can really be an alternative. We can provide good service not only in our headquarters, but all over the world.”
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