Brokers still pessimistic over commercial market
London Market KPMG survey predicts consolidation and rate hardening
It would appear that despite recent financial woes among London Market insurers, brokers continue to be pessimistic about commercial market hardening.
A General Insurance Performance Benchmarking Survey from accountants KPMG, argued that record catastrophe losses in the first half of 2011 and lack of profit for key players meant the future for the sector overall would consist of consolidation, premium increases and a renewed focus on cost management.
However, Mark Winlow, UK head of general
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