State of the market
The personal lines market: boom or bust for brokers? Tony Cornell reflects on brokers' movements in the personal lines market over the past 20 years and asks, could the sector be facing yet more consolidation?
In 20 years brokers have moved from being king to a bit player in a UK personal lines market, which, including Lloyd's and offshore players, is worth about £20bn. Of this, about half is private motor with the remainder covering household, travel, legal expenses, pet and special schemes.
The private car account, which stands at about £10bn, has shown no real growth since the end of 2002 after it grew 25% during the harder markets of 2000 to 2002 then levelled off. However, it managed to over
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