Industry worries about further insurer consolidation

Consolidation

Seventeen Group MD Paul Anscombe says RSA takeover will not be the last.

Recent insurer activity will step up the pace of an RSA sale, according to Paul Anscombe, managing director of Seventeen Group.

Anscombe told Insurance Age that he would be "sad to be losing a leading UK insurer" and that while he was not surprised by the news he was a little bit disappointed.

He added: "It's an interesting one if you look at the context of Chubb and Ace. We're potentially losing two huge players in the UK market, two quality players.

"It's good news for insurers who are global

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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