Broker consolidation to continue during 2006
Consolidation among UK insurance brokers looks set to continue in 2006, but prices could rise sharply as the number of firms seeking to acquire outstrips the number of brokers up for sale by a factor of 10 to one.
According to a new survey conducted on behalf of broker-only insurer NIG, 30% of brokers said that they intended to acquire another broker in 2006, however only 3% said that they hoped to be bought.
Large regional brokers had the greatest appetite for acquisition with 52% wanting to buy
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