Brokers paint gloomy picture

Lloyd's brokers are expecting a gloomy year ahead, according to a recent survey by advisory firm Mazars.

Researchers found more than three-quarters (78%) of respondents expected the soft market to continue for another year, while 89% said the consolidation culture would diminish the number of Lloyd's brokers. In addition, the report revealed that small brokers were even more wary, partly due to the weakness of the US dollar and the continuing uncertainty of the credit crunch.

Mark Grice, head of