Source Insurance is soon to be celebrating 20 years in the general insurance industry and, to mark the milestone, has launched a GI book purchase programme for existing Source agents.

Kevin Paterson (pictured), Source’s managing director, said that general Insurance is one of the few financial products that enable brokers to build embedded value with a long term income stream from renewals.

He said: “The better you look after your client the bigger the ongoing income stream.

“Building the book effectively is a really practical and positive way to boost your pension, at Source we will continue to pay renewals even if you have left the industry; however, this latest development offers the possibility of receiving a capital lump sum for your back book and you don’t have to be retiring in order to take advantage.”

Source founder and chairman Andrew Masters added: “20 years have flown by and many of our longstanding brokers are now retiring or leaving the industry.

“We’ve had a steady stream of enquiries both from Source users and other intermediaries about purchasing their GI back books, and have finally decided to do something about it.”

Interested brokers should contact Source’s sales support team on 02920 265 265 or to email admin@thesource.co.uk