Is the bubble bursting?
Over the past couple of months, the trade press has reported that consolidators are cutting back on acquisitions, insurers are shedding jobs and underwriters are pulling out from managing general agents (MGA). Allowing for the inaccuracies of the rumour mill, it seems that reality is returning and the bubble of consolidation, MGA and absurdities of the soft market may be about to burst. However, is this just wishful thinking?
Axa has stated that it will make no more substantial acquisitions until
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