Axa chief warns of pressure on commissions
Axa UK chief executive Peter Hubbard has warned that current broker commission rates are unsustainab...
Axa UK chief executive Peter Hubbard has warned that current broker commission rates are unsustainable. In an interview with Professional Broking, having just released details of Axa's 2006 results, Hubbard said: "Commissions will come down or premiums to customers will have to go up. Current rates are not sustainable.
"The profit pool between insurers and brokers is getting smaller. The prices in the market are not going up and premiums are static."
Hubbards' comments echo those of Robin Lucas
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