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The Tentacle

Employee Ownership

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TEn Celebrates EO Day

TEn Insurance Services Ltd. celebrates UK Employee Ownership Day – 30th June 2017 Staff of TEn Insurance Services based in Princes Risborough and Manchester are delighted to be part of the UK Employee Ownership Day (EO Day), run by the Employee Ownership Association (EOA), on Friday 30th June 2017. Employee Ownership Day is an important event in our annual calendar, since this is the day that we can fully celebrate our commitment to Employee Ownership, engage our employee owners and celebrate what…

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Alternatives to Sale

In 2017, there is a perfectly viable alternative to a sale of any business, unfortunately, too many brokers are distracted by the enticing concepts of villa and golf course that they fail to consider it early enough. The alternative is employee ownership (EO). In the olden days’ people used to call this a Management Buy Out (MBO), but it rarely happened in the broking world. This is because the younger ‘Management’ of the provincial broker could seldom raise the money from local high street banks…

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TEn Extends Employee Ownership

Staff to benefit from increased value under Share Incentive Plan 19th October 2015: TEn Insurance Services Ltd, the network for independent commercial brokers, is delighted to announce that it has taken another step down the road towards broader share ownership with the introduction of a Shareholder Incentive Plan (SIP), as a vehicle for its staff to individually purchase shares in the company. This move follows on from the transfer of 69.5% of the firm’s equity during November 2014 in favour of…

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More about Employee Ownership (EO)

Since the explosion in the number of provincial brokers from the early 70s, the end-game has focused – with few exceptions – either on sale or inheritance as the only two exit strategies for the founders.  Happily, there is now another way, an alternative that captures the zeitgeist of the times into which we have been delivered.  Employee Ownership.   Before going any further, one should make the distinction between Employee Ownership and employee *Share Schemes *by pointing out that these two…

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4th July - Employee Ownership Day

On the 4th July TEn celebrated its transition to Employee Ownership (EO) on what is, annually, National EO Day.  I was particularly grateful to be invited to go and speak about our decision to embrace EO elsewhere, otherwise I would doubtless have been required to adopt some form of silly American fancy dress; as did most of my colleagues! The question is, why have we done it? Following the purchase of Giles and Oval by Arthur J. Gallagher, one can sense a definite* fin de siècle* whiff as we draw…

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Independence Guaranteed by TENT

TEn Insurance Services, the network for independent commercial brokers, was proud to announce on the 4th July (Employee Ownership Day) that it will become majority owned by its employees, via an Employee Ownership Trust (EOT) called TENT, by the end of the month. TEn Insurance Services was incorporated in September 2004 and first started marketing its, then unique, network model in February 2005. Membership now (July 2014) stands in excess of 90 brokers, most of whom have been start-ups comprising…

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TEn Ownership Safe Forever

TEn Insurance Services, the network for independent commercial brokers, is pleased to announce that it has now taken both the first and second steps toward employee and, in due course, member ownership. In the summer of 2013, TEn joined the Employee Ownership Association to establish contact with other companies and resources committed to eventual co-operative ownership.  In December, The Enterprise Network Trustee Ltd (TENT) was incorporated as an Employee Ownership Trust (E0T). The equity in TEn…

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