How M&A has impacted the Top 50 brokers and implications for the wider market (2003 to 2016)
In this IIL London Market lecture Olly Laughton-Scott discussed the impact of changes driven by mergers and acquisitions on the top 50 brokers over the last 13 years and considered the implications for the broking profession for the next 5 years.
International - the largest brokers struggle to grow in a mature market so they use their financial strength to acquire their smaller rivals. They use private equity to undertake the necessary institutionalising of smaller firms.
London Market - every Lloyd's broker for sale is hard to sell. Many will remain independent despite many existing owners looking for an exit. Private equity has stepped in but may find exiting difficult.
Commercial - continued acquisitions across the industry and large well integrated consolidators offer active target for international brokers.
Personal lines - dynamic industry generates rapid growth opportunities and this trend is more pronounced.
By the end of this lecture members would have gained an insight into:
- The current state of general insurance broking
- M&A activity over the last 5 years
- The top 50 brokers 2003-2016
- The impact of M&A activity
Olly Laughton-Scott was the Founding Partner of IMAS Corporate Finance LLP in 1992 and was responsible for the development of IMAS's central knowledge base system (IMAS-insight). Prior to setting up IMAS he worked for Cazenove, where he worked on rights issues and public company takeovers and at Kleinwort Benson, where is was involved in a number of financial services transactions.
Russell Higginbotham FCII, Global Head of Life & Health Products, Swiss Re and President, IIL.
Registration & Security
IIL lectures are open to CII and PFS members
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