There's no stopping now: insurer-broker acquisitions
Andrew Tjaardstra reports that there is little to stop the recent spate of insurers buying brokers
Insurer chief executives continued their strategy of buying brokers in February.
Last month, Ecclesiastical acquired South-Ockendon-based South Essex Insurance Brokers, while Royal & SunAlliance bought Purley-based the Fyfe Group. Both acquisitions unveiled different priorities for the respective brokers.
Ecclesiastical already writes 25% of SEIB's £28m book, and said it wanted to grow its scheme business but keep the broker independent. On the other hand, RSA will be underwriting 100% of Fyfe's
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