|
|
Article: Don't Write Off Small Re Brokers Yet
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- June 1, 1998
- Author:
CopyrightCOPYRIGHT 1998 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
As in all other segments of the insurance industry, the reinsurance broking community is undergoing the pangs of consolidation. In the past 24 months alone, five of the world's leading retail broker companies have been swallowed up by two others. The result is that New York-based J&H Marsh & McLennan and Aon Corp. of Chicago now control a major portion of the market.
But this vast consolidation on the retail side has also seen a commensurate bunching up of business within the reinsurance broking community.
For instance, last year Aon Re, the reinsurance intermediary arm of Aon Corp., acquired Bain Hogg International Ltd.; Alexander Howden Group; Alexander ...