Consolidation on the way in robust London Market, says KPMG

Royal Exchange in central London

The accountancy firm claimed that 2011 would be remembered as an exceptional year for the insurance industry, with record losses in the catastrophe market and key players posting losses in their half-year statements.

While the firm's General Insurance Performance Benchmarking Survey emphasised the robust nature of the market it also predicted consolidation, premium increases and a renewed focus on cost management for the sector in the second half of the year.

Mark Winlow, UK head of general

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