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Comment - Major players hope to convince big is beautiful.
(From Post Magazine)
A month ago, Post Magazine reported findings from the Association of British Insurers that claimed national and international brokers had seen a significant drop in their market share of the UK commercial market.
According to the ABI's research, national and chain brokers had seen their slice of the national pie shrink from 80% in 1998 to 55% in 2002.
Given the continued rise of the so-called super-provincials in the past two years, it would not be surprising to find that the major brokers had seen their share fall even further. With this in mind, it was interesting to see recent statements from the likes of Aon and Marsh about plans to attack the middle market segment. Aon told PM that it planned to ramp up its market share from 10% to possibly 25%, and Marsh announced plans to formulate a think-tank to help it grow in this commercial sector (see p1).
Both built up their UK regional ...
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