Advising Start-up Intermediary on UK & European Licensing & Distribution Issues
The Client’s Needs
The client was a start-up intermediary backed by private equity with big plans for growth through the acquisition of a network of brokers across Europe. Their plan involved the distribution of insurance products on behalf of insurers in the UK and Europe. They wanted to get to market fast and needed advice on licensing and distribution.
ICSR were engaged at short notice to provide support to the small start-up team on a variety of issues including:
- Governance and other regulatory issues
- Distribution model and arrangements
- Due diligence and outsourcing requirements
A director of ICSR was involved due to the urgent nature of the work.
The client was able to commence trading within a month of ICSR’s engagement with all of its licensing advice and arrangements in place for the initial phase, their distribution model determined and the insurance capacity and reinsurance arrangements in place.