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UK: Market ripe for insurance mergers, say experts

 |  November 24, 2014

The UK’s insurance industry is poised to see a new wave of mergers and acquisitions among its brokers, experts predict.

Reports say as rates decrease for various types of insurance, margins are being squeezed, especially for smaller brokerages. Experts say the conditions suggest new mergers are ahead.

The predictions follow last October’s announcement that Willis Group Holdings will acquire independent brokerage Miller Insurance Services and establish a new London-based specialty brokerage.

Another deal was announced this month that will see Hyperion Insurance merge with R.K. Harrison Holdings should the two be able to agree on a deal, say reports.

Several additional deals have been announced this month including mergers involving Towergate Insurance, Lloyd’s and Hamilton Insurance.

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