Keeping the spirit alive

The insurance industry has always struggled to attract fresh talent, and there are fears that consolidation in the market is dampening entrepreneurial spirit. However, is it all doom and gloom for the future of the market?

Are the current consolidation strategies sucking the entrepreneurial lifeblood out of the insurance industry?

Paul: The short answer is no. However, it's not as easy as it was five years ago, especially with regulatory requirements and a consolidated insurance market. One of the biggest drives in the industry at the moment is people seeing their bosses or peers walk away with large amounts of money, which will encourage them to do something for themselves.

Steve: In the past, consolidation periods

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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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