Cracks in consolidation

Tony Cornell

It all seemed so easy. Find an enterprising insurance businessman, back him with unlimited funds and set out to consolidate a fragmented independent insurance broking sector.

In 2000, there were 4,000 brokers and the top 100 only controlled 20% of the independent market. Collectively they had a commission income of about £300m. The top 10 had less than 8% with an income of £100m. The commercial sector was dominated by brokers with over 95% of the market under their control and the consolidation

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