MarshBerry reveals the historical fate of smaller brokers
Nearly one-third of brokers that had 10-15 staff five years ago have been sold, MarshBerry has revealed as it offered a rare lens on how the ‘ordinary’ regional broker has fared over a period of intense consolidation and market change.
The ‘Class of 2021’ 254 firms 31% of all UK firms with >10 staff 170 commercial brokers (67%) 45 MGA and wholesale (18%) 39 personal lines (15%) 96% privately-held Average age of owner – 57Analysing the outcome for the ‘Class of 2021’ (see box, right) the M&A specialists found a small number have failed and been closed down while around two-thirds are still active and independent.
In its annual report on The State of UK Insurance Distribution, MarshBerry acknowledged the majority of the 2021
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