Independent Broking Solutions Limited

What Independent Broking Solutions Limited does

Independent Broking Solutions Limited (IBS) is a London-based Lloyd's insurance broker operating under FCA authorization (registration number 312026) and Lloyd's Broker Number 1179. The firm is a wholly owned subsidiary of Independent Services Group Limited (ISG) and runs an Appointed Representative (AR) fee-for-service model, providing professional principals with placement access to the Lloyd's and London Company Markets without producing its own risk. Structurally, IBS positions itself as a non-conflicted intermediary — it does not write its own paper — and serves MGAs, coverholders, and other wholesale clients via its AR network.

The business monetizes through service fees tied to placement activity rather than underwriting results, and it offers Coverholder operations through a partnership with MGA Capital Limited. The firm maintains FCA and Lloyd's regulatory credentials that have been preserved across Brexit via the 2020 Lloyd's Brussels Part VII transfer, enabling continued EEA servicing rights. Its operations have been consolidated at 63 St Mary Axe, London, with an additional office at 1 George Yard.

IBS has signaled modest capability expansion through a US Domestic Markets joint venture partnership, extending placement reach beyond Lloyd's and London into US-domiciled paper. Headcount is small at 11 employees, consistent with a focused boutique intermediary rather than a scaling brokerage platform. Governance includes a board-level appointment in 2018 of Jonathan Sprules. No AI/ML, technology platform, or proprietary tooling is disclosed, and the firm's competitive position rests on regulatory access, AR network relationships, and reputational differentiation rather than technology.

Name

Independent Broking Solutions Limited

Legal name

Independent Broking Solutions Limited

Website

https://ibsbroking.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Independent Broking Solutions Limited is a London-based Lloyd's insurance broker (FCA-authorized, Broker at Lloyd's No. 1179) operating an Appointed Representative fee-for-service model, providing non-conflicted placement access to Lloyd's and London Company Markets for MGAs, coverholders, and wholesale principals.

Ownership category

akta.pro rank

Product category

Insurance Broking

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industry

P&C Reinsurance Brokerage (FSAOAHAG)

Keywords

• Lloyd's insurance broking
• Appointed Representative services
• London market access
• Fee-for-service AR model
• Specialty insurance placement

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Fee for Service - Appointed Representative Model: IBS manages a network of Appointed Representatives on a fee for service basis. The AR owns the limited liability company and IBS provides regulatory responsibility, company formation, and on-going corporate services. IBS earns fees for service provision rather than producing its own business.

Go-to-market motion2 records

Distribution channels2 records

Core offering

Independent Broking Solutions Limited is a Lloyd's insurance broker providing fee-for-service Appointed Representative (AR) arrangements that allow client brokers, intermediaries, captive managers, RRG managers, and insurance carriers to access Lloyd's and London Company Markets without themselves needing direct broker authorisation. The firm produces no own business, offering a conflict-free route to placing specialty risks across Marine, Aviation, Property, Casualty, Motor, Reinsurance, and After-the-Event lines.

Product overview

Independent Broking Solutions Limited is a Lloyd's insurance broker providing a fee-for-service model through its network of Appointed Representatives (ARs). The core offering comprises the AR Fee for Service Model, which includes the Broker AR Model and Coverholder AR Model sub-products, supported by UK Clients Service, Non-UK Clients Service, and US Domestic Markets Service. IBS operates as a Lloyd's Broker (Number 1179) providing access to Lloyd's and London Company Markets. The company manages no business of its own, enabling it to service clients without conflict. IBS is a wholly owned subsidiary of ISG (Independent Services Group Limited).

Differentiator

Problem solved

Functional benefit

Products and services

• Fee-for-Service AR / Lloyd's Broker Model IBS places business into Lloyd's and the London Company Markets on behalf of appointed client brokers without producing own business; the client broker retains the client relationship and economic interest while IBS handles the regulated placement.
• Broker AR Model Appointed Representative arrangement for client brokers operating as intermediaries, providing regulated Lloyd's and London market access via IBS's FCA authorisation and Lloyd's Broker Number.
• Coverholder AR Model AR arrangement for entities acting as coverholders, leveraging IBS's Lloyd's broker status to bind and administer risks on behalf of Lloyd's syndicates.
• UK Clients Service AR and placement service tailored to UK-based clients requiring regulated access to Lloyd's and the London market.
• Non-UK Clients Service AR and placement service for non-UK domiciled clients seeking regulated access to Lloyd's and the London Company Markets.
• US Domestic Markets Service AR and placement service covering US domestic insurance markets for clients operating in or sourcing risk from the United States.

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• MGA Capital LimitedcoreStrategic or Co-development PartnerIBS offers Coverholder arrangements through partnership with MGA Capital Limited which brings a team of experienced Coverholder underwriters and administrators to clients. In the event a client wishes to operate on a freestanding basis, this is also available directly from IBS.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• THB (Tyser & Co / now Amwins): London market broker providing specialty placement, including aviation, marine, and energy via Lloyd's. Comparable to IBS in specialty-line orientation and Lloyd's broker status; serves similar AR/MGA clientele with similar fee structures.
• RFIB Group: Specialist Lloyd's and London market broker serving ARs, coverholders, and MGAs across aviation, marine, energy, and specialty lines. Directly comparable to IBS in both customer base (ARs/MGAs needing Lloyd's access) and product offering (specialty placement + binding authorities).
• Besso Insurance Group: London-based independent Lloyd's broker providing specialty and reinsurance placement services, including to ARs and coverholders. Closely comparable to IBS in operating model, London Market focus, and specialty-line emphasis, though larger and with producing-broker dynamics.
• Beach & Associates: Boutique London market broker specialising in professional indemnity and specialty lines via Lloyd's. Directly comparable to IBS as a small, independent Lloyd's broker targeting specialty risks and serving client-producer relationships.

Broad incumbents

• Howden Group: Large independent specialty insurance and reinsurance broker with significant Lloyd's market presence. Highly comparable to IBS in targeting specialty lines and serving AR-type structures, but at much larger scale and with own in-house production teams that create conflicts IBS is structured to avoid.
• Hyperion Insurance Group (now Howden Specialty): Specialty insurance group with Lloyd's and London market focus, providing broker, MGA, and underwriting services. Comparable to IBS in serving specialty brokers and ARs, but at significantly larger scale across multiple geographies.
• Miller Insurance Services: Independent London market broker with deep specialty and reinsurance capabilities and Lloyd's broker status. Comparable to IBS in London/Lloyd's footprint and specialty focus, but at materially larger scale and with proprietary producing-broker teams.

Others

• Bruxelles Lloyd's Brokers Network / Lloyd's Brussels: Platform/regulatory framework relevant to IBS's Brexit-related Brussels Part VII servicing and EEA policy placement. Comparable to IBS as it defines the regulatory and distribution infrastructure IBS uses to serve European clients.
• Independent Services Group Limited (ISG): Parent group of IBS providing underwriter services, consultancy, broking services, and technology across (re)insurance. Adjacent comparable as the operating umbrella for IBS, sharing leadership overlap and providing the corporate-services backbone IBS relies on for its AR model.

Emerging players

• Castel Underwriting Agencies: London-based MGA platform providing underwriting agency services across multiple specialty classes via Lloyd's. Adjacent comparable to IBS's Coverholder AR model and Bermuda market access, but operating as principal underwriter rather than fee-for-service broker.

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/independent-broking-solutions-limited

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Independent Broking Solutions Limited