A new wave

With Axa's recent spate of broker acquisitions, Edward Murray takes a look at the rationale behind this consolidation and asks how much the market is going to be changed

This year has already firmly established itself as a year to remember for insurance brokers, with a new wave of consolidation hitting the industry and more set to come rolling over the horizon in the months ahead.

In recent years, consolidation in the broker market has been driven by the influx of third-party capital from private investment houses, while regulatory and commercial pressures have also played their part.

However, in the past few months there has been a concerted drive by Axa