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Commercial Non-Life Insurance Brokers in Europe

Table of Contents

Executive Summary

Introduction

European Overview

Austria

Belgium

Czech Republic

Denmark

Finland

France

Germany

Ireland

Italy

Netherlands

Norway

Poland

Portugal

Romania

Russia

Spain

Sweden

Switzerland

Turkey

UK

 

0.0 EXECUTIVE SUMMARY 

Europe's commercial non-life insurance market was worth over EUR 130 billion in premiums in 2015...

...and increased in real terms in ten countries between 2011 and 2015

Brokers constitute the most important distribution channel for commercial lines in most markets

More than a quarter of the EUR 11.54 billion commercial non-life broking market is derived from the UK

Between 2011 and 2015 brokers' revenues grew more rapidly in Turkey than in any other country

The top three broking groups hold a combined market share of just over 30% across the region

Brokers are expected to increase their commercial lines distribution share in 16 out of 20 countries…

… which will mean that the associated broking market will rise, even stated in real terms, in 18 countries 

1.0 INTRODUCTION

What is this report about?

The focus is uniquely on commercial non-life (P&C) insurance, excluding other types of business...

...and on brokerage, even where intermediaries can act as both agents and brokers

Rationale

In many countries, brokers constitute the most important distribution channel for commercial lines

Methodology

Research program

Market data analysis

Definitions

Premiums

Size of insured entity

Abbreviations

BrokerBASE

Finaccord 

2.0 EUROPEAN OVERVIEW 

Commercial non-life insurance market

The European commercial non-life insurance achieved modest growth between 2011 and 2015

Germany, France and the UK account for more than a half of commercial lines premiums in Europe

Turkey and Russia registered the sharpest growth rates in nominal terms

After taking inflation into account, ten markets contracted in real terms

Property, motor and liability insurance account for more than three quarters of the market

Across Europe as a whole, commercial motor insurance grew most rapidly between 2011 and 2015

Across the 20 countries, around EUR 32.8 billion of premiums are paid by micro-sized clients…

… which generate the highest proportion of total commercia lines premiums in Italy

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers distribute more than 60% of commercial lines business in Europe…

… and are most important as distributors of commercial non-life insurance in Ireland and the UK…

Brokers’ distribution share increased in 16 of the 20 countries between 2011 and 2015

UK, France, and Germany are Europe's largest markets in terms of commercial lines broking revenues

These revenues increased in real terms between 2011 and 2015 in 14 of the 20 countries in scope

The largest clients generate just under 30% of total commercial lines broking revenues in the 20 countries…

… and over a half of the total in Russia but less than 20% in Italy

Market concentration

Germany and Spain feature Europe's least concentrated markets for commercial lines broking

The top three broking groups account for almost 35% of commercial lines broking revenues…

… and they are nearly always ranked among the top ten brokers in any given country

Future outlook

The future direction of commercial lines broking revenues is dependent on a number of factors…

… which point to the Turkish market as being the one that will generate the most real growth…

… albeit all but two of the 20 markets should experience growth in real terms from 2015 to 2019

By 2019, the commercial lines broking market in Europe is likely to be worth around EUR 12.65 billion 

3.0 AUSTRIA

Introduction

Regulatory information

Several professional associations exist for insurance brokers and agents in Austria…

… the largest of which has around 1,000 members

Commercial non-life insurance market

Commercial non-life insurance premiums in Austria have risen consistently in recent years…

… both in terms of year-on-year progress and growth across each of the main segments

Medium-sized customers account for the highest proportion of commercial lines premiums

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers’ distribution share in commercial non-life insurance has edged up since 2011

More than a quarter of commercial lines broking revenues are attributable to one customer segment

Competitor trends

The top ten competitors account for nearly 60% of commercial lines broking revenues...

... with GrECo International retaining its leading position in this market

Aon is ranked second but other international brokers are less prominent

The increasing concentration in this market has been caused in part by merger and acquisition activity

If counted together, brokerages owned by Raiffeisen banks would be ranked third

Commercial lines broking is the principal income generator for all of the top 30 brokers…

… with several deriving over 95% of their revenues from this activity

International broker networks

A number of brokers ranked outside of the top 30 are members of international networks

Future outlook

Modest growth is forecast for the Austrian commercial lines broking market up to 2019 

4.0 BELGIUM

Introduction

Regulatory information

The number of registered insurance intermediaries has more than halved in recent years…

… although brokers continue to play a key role in commercial lines distribution

Commercial non-life insurance market

Commercial non-life insurance premiums in Belgium have been growing at a consistent rate…

… with those for the residual category of other commercial insurance having risen most rapidly

Customers in the micro segment account for over 30% of total commercial lines premiums

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers in commercial lines may have reduced very slightly since 2011

Customers in the micro segment also generate a significant proportion of broking revenues

Competitor trends

The three leading commercial lines brokers in Belgium are far ahead of the fourth-ranked competitor

… with Marsh having boosted its position through the acquisition of Trade Insure in 2015

Van Dessel has relinquished control of Bokiau to Alliance Participations

For only one broker in the top 25 is commercial non-life insurance not the principal source of income…

… and for two of them it is the only activity from which they generate revenues

International broker networks

Belgibo, Induver, Van Dessel and Vanbreda Risk & Benefits each belong to more than one network

Future outlook

The commercial lines broking market will deliver further steady growth up to 2019 

5.0 CZECH REPUBLIC

Introduction

Regulatory information

Intermediaries can act simultaneously as both agents and brokers

Commercial non-life insurance market

In real terms, commercial non-life insurance premiums in the Czech Republic have stagnated

Premiums split quite evenly across the five categories of insured entity as defined by their size

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers in commercial lines is likely to have increased since 2011

Almost a quarter of commercial lines broking revenues are attributable to the largest client segment

Competitor trends

The acquisition of Insia by Marsh & McLennan Companies has caused the market to consolidate

RENOMIA is active in several overseas markets as well as the Czech Republic

Two of the top 20 brokers generate all of their revenues from commercial non-life insurance

International broker networks

MAI Insurance Brokers and RENOMIA are both affiliated to five networks

Future outlook

The value of the commercial lines broking market is likely to continue growing at a reasonable rate 

6.0 DENMARK

Introduction

Regulatory information

In the vast majority of cases, brokers must be remunerated through fees, not commissions

Commercial non-life insurance market

The Danish market for commercial non-life insurance has struggled to grow in recent years…

…with premiums for commercial liability insurance having fallen back most rapidly

Insured entities in the micro segment generate nearly one quarter of premiums in this market

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers are likely to have increased their distribution share of commercial lines premiums since 2011

The micro segment contributes much less to brokers’ revenues than to commercial lines premiums

Competitor trends

The structure of the Danish commercial lines broking market changed little between 2011 and 2015

Willis Towers Watson is comfortably ahead of its closest competitor

Commercial lines broking is the most important source of revenue for nine of the top ten brokers

International broker networks

Söderberg & Partners Denmark is affiliated to eight different international networks

Future outlook

Revenue growth in the commercial lines broking market will be derived from a combination of factors 

7.0 FINLAND 

Introduction

Regulatory information

As in some other countries, regulations dictate that brokers are paid through fees, not commissions

Commercial non-life insurance market

The Finnish market for commercial non-life insurance was worth over EUR 2 billion in 2015…

… having grown at a fairly consistent rate since 2011

Premiums split quite evenly across five categories of insured entity as defined by their size

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

While slowly rising, the distribution share of Finnish brokers in commercial non-life insurance remains low…

… and close to a half of their revenues from this activity is due to the largest client category

Competitor trends

The Finnish commercial lines broking market is a very concentrated one…

… in which several significant acquisitions have taken place in recent years

Commercial lines broking is the most important source of revenue for all ten of the leading brokers

International broker networks

Five of the 15 international networks investigated lack a Finland-based member

Future outlook

Between 2015 and 2019, the commercial lines broking market will grow in value by more than a third 

8.0 FRANCE

Introduction

Regulatory information

The number of brokers in France is increasing while the number of agents is in decline

Commercial non-life insurance market

Commercial non-life insurance premiums in France have stagnated in recent years…

… with only commercial motor insurance growing in real terms

One customer segment (as defined by number of employees) accounts for almost 30% of premiums

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers have been successful in increasing their distribution share of commercial lines

Over a third of commercial broking revenues are attributable to the segment of very large clients

Competitor trends

The concentration of the French commercial lines broking market has altered little in recent years…

… in spite of Willis Towers Watson taking control of Gras Savoye

Ardian has bought a majority stake in Siaci Saint-Honoré

Finaxy Group has been the most acquisitive of the larger brokers in France

Several brokers generate all of their revenues from commercial non-life insurance…

… but others have a more diverse business mix

International broker networks

Diot belongs to the most international broker networks

Future outlook

The French commercial lines broking market should continue to grow at a modest rate up to 2019 

9.0 GERMANY

Introduction

Regulatory information

There is a clear, long-term trend for an increasing number of insurance brokers in Germany…

… and a declining number of insurance agents…

… albeit some ‘brokers’ act more in the manner of multi-tied agents

Captive brokers owned by large industrial companies are an important feature of the German market

The Verband Deutscher Versicherungsmakler lays claim to over 600 member firms

Commercial non-life insurance market

Commercial non-life insurance premiums in Germany have been growing consistently…

… with those for commercial motor insurance having risen most rapidly

Premiums split quite evenly across the five categories of insured entity as defined by their size

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

In commercial non-life insurance, brokers are gradually eroding the distribution share of agents…

… and are being helped by the introduction of more modern processes, such as e-trading solutions

Over one third of commercial lines broking revenues are attributable to the largest client segment

Competitor trends

Commercial non-life insurance broking in Germany still features a fragmented competitive structure...

... with only the market leader claiming a market share of commercial lines revenues in excess of 10%

Other brokers ranked in the top ten are characterised by a diverse range of ownership structures

The merger of MRH Group with Trowe will propel the combined entity further up the ranking of brokers

For a majority of the top 70 competitors, commercial lines broking is their most important activity…

… although several of the largest entities derive very substantial revenues from employee benefits

Several of the top 70 brokers in Germany specialise in particular sectors or product segments

International broker networks

Both Trust Risk Control and unisonBrokers lay claim to multiple broking members in Germany

Future outlook

The commercial lines broking market is on track to be worth EUR 2 billion in revenues by 2019 

10.0 IRELAND

Introduction

Regulatory information

Over 450 companies belong to the main association of insurance brokers in Ireland…

… collectively providing employment to over 5,500 individuals

Commercial non-life insurance market

Three main segments account for close to 95% of the Irish commercial lines market…

… and these are also the areas of the market that have delivered growth in recent years

Premiums distribute quite evenly across five categories as defined by client size

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers remain almost entirely dominant as a distribution channel for commercial non-life insurance…

… helping to generate a commercial lines broking market worth more than EUR 150 million in 2015

Competitor trends

The combined share of the top three brokers dropped back slightly between 2011 and 2015…

… as several of their competitors ranked from fourth to tenth have been growing more rapidly

Among indigenous brokers, Arachas and Campion are the most significant in commercial lines

For a majority of the top 20 competitors, commercial lines broking is their most important activity

International broker networks

Several brokers belong to more than one international broker network

Future outlook

Stronger growth is forecast for the broking market from 2015 to 2019 than occurred from 2011 to 2015 

11.0 ITALY

Introduction

Regulatory information

There are around 1,600 broking firms among almost 24,000 businesses active in insurance intermediation

AIBA has amassed around 1,100 broking firms as members...

... and has reached an agreement with the SNA concerning collaboration between brokers and agents

Commercial non-life insurance market

The value of the Italian commercial lines market fell by more than EUR 1 billion between 2011 and 2015…

… and only one segment experienced growth, even when expressed in nominal terms

Clients in the micro segment account for the highest proportion of commercial lines premiums

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers constitute the dominant distribution channel for commercial non-life insurance in Italy…

… although a lot of business that they generate arrives at underwriters via agents

Almost a half of commercial lines broking revenues is due to customers in the micro and small categories

Competitor trends

Two multinational firms dominate Italy’s commercial lines broking market…

… with Gruppo Assiteca overtaking Ital Brokers to occupy third position

Lockton acquired P.L. Ferrari, a specialist P&I and marine insurance broker, in December 2015

Commercial lines broking is the most important activity for all but one of the top 50 brokers in Italy…

… and for three of them it is their only source of income

International broker networks

Seven firms ranked outside of the top 50 are members of international broker networks

Future outlook

Modest growth is forecast for the Italian commercial lines broking market up to 2019 

12.0 NETHERLANDS

Introduction

Regulatory information

Intermediaries in the Netherlands can act both as agents and brokers depending on the line of business

Regulations concerning commission payments and disclosure requirements have had an impact

Commercial non-life insurance market

Commercial non-life insurance premiums in the Netherlands have stagnated in recent years…

… with significant growth having occurred only in the category of commercial liability insurance

Medium-sized customers account for the highest proportion of commercial lines premiums

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers’ distribution share in commercial non-life insurance has changed little since 2011

Almost 30% of commercial lines broking revenues are attributable to one customer segment 

Competitor trends

The top three competitors account for over a half of commercial lines broking revenues…

... with Aon more than double the size of its rivals ranked in second and third position

AEGON is the owner of three brokers ranked in the top 20 in the Netherlands

Dutch brokers typically maintain a comparatively balanced portfolio of activity…

… with almost all active in personal lines and employee benefits as well as in commercial lines

International broker networks

A number of brokers ranked outside of the top 30 are members of international networks

Future outlook

Modest growth is forecast for the Dutch commercial lines broking market up to 2019 

13.0 NORWAY

Introduction

Regulatory information

There are over 60 registered insurance brokerages active in Norway

In most cases, brokers are remunerated through fees rather than commissions

Commercial non-life insurance market

Commercial lines premiums in Norway grew in each year from 2011 to 2015…

… although growth was weakest in the largest segment, namely MAT insurance

One segment accounts for over a quarter of commercial non-life insurance premiums

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The value of the commercial lines broking market moved up at a modest rate from 2011 to 2015…

… with over 60% of this sector due to two client segments, as defined by their size

Competitor trends

Between 2011 and 2015, Norway’s broking market became more concentrated…

… and it is led by Aon and Willis Towers Watson

For only one of the top 15 brokers is commercial lines broking not the main source of revenues…

… and for two of them it is their only activity

International broker networks

Norwegian Broker and Quality Broker both belong to more than one international network

Future outlook

The distribution share of Norwegian brokers is likely to have edged up further by 2019 

14.0 POLAND

Introduction

Regulatory information

The number of insurance intermediaries in Poland has increased quite substantially in recent years

Commercial non-life insurance market

The Polish market for commercial non-life insurance has stagnated since 2013…

… albeit growth has been strong for certain classes of business

Insured entities in the micro segment generate a significant proportion of premiums in this market

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers in commercial non-life insurance edged up between 2011 and 2015

Smaller entities account for a much lower share of commercial lines broking revenues than premiums

Competitor trends

The Polish commercial lines broking market remains a fairly fragmented one…

… with the two leaders accounting for only around 20% of revenues in it

MAK and Nord Partner are the most prominent indigenous brokers

Most of the leading brokers derive a majority of their revenues from commercial non-life insurance

International broker networks

MAI Insurance Brokers and Mentor have been most active in affiliating themselves to broker networks

Future outlook

Relatively strong growth is predicted up to 2019 for the Polish commercial lines broking market 

15.0 PORTUGAL

Introduction

Regulatory information

Agents and tied intermediaries continue to limit growth prospects for brokers…

Commercial non-life insurance market

… and it is also the case that the underlying commercial lines insurance market has been contracting…

… most notably for the main liability, motor and property segments

Micro entities generate around 30% of commercial non-life insurance premiums in Portugal

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers in commercial lines has declined slightly since 2011

Almost 30% of commercial lines broking revenues are attributable to the largest client segment

Competitor trends

The growth of MDS is one factor that is causing the broking market to become more concentrated…

... as it successfully diversifies away from its captive broking origins

For a majority of the top 15 competitors, commercial lines broking is their most important activity

International broker networks

Costa Duarte, F. Rego and Villas-Boas each belong to three international broker networks

Future outlook

The commercial lines broking market is unlikely to have expanded much by 2019

16.0 ROMANIA 

Introduction

Regulatory information

Romanian brokers derive the vast majority of their revenues from commissions rather than fees

Commercial non-life insurance market

In real terms, the value of the Romanian commercial lines market has diminished in recent years…

… albeit commercial motor insurance premiums have risen

The five categories of insured entity as defined by size generate roughly equal shares of premiums

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers in commercial lines has increased sharply since 2011…

… albeit over 30% of broking revenues are still likely to be due to the largest entities

Competitor trends

Destine is the market leader ahead of several multinational or non-indigenous competitors

RENOMIA entered the Romanian market in 2015 following its acquisition of SRBA

Most of the top 15 firms derive the bulk of their income from a combination of commercial and personal lines

International broker networks

MAI Insurance Brokers and RENOMIA adhere to the most networks

Future outlook

The outlook for Romania’s commercial lines broking market is a relatively positive one 

17.0 RUSSIA

Introduction

Regulatory information

The Central Bank of Russia assumed supervisory authority over the insurance sector in 2013

The number of registered brokers has decreased somewhat in recent years…

… albeit the distinction between multi-tied agents and brokers has not always been clear

Commercial non-life insurance market

In real terms, the Russian commercial lines market has contracted in recent years…

… with the decline having been most acute in the commercial MAT and property segments

Over a half of premiums are due to clients that are defined as large or very large

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Brokers represent a growing channel for commercial non-life insurance in Russia…

… and they focus mainly on serving larger entities

Competitor trends

The broking market is likely to have become slightly less concentrated in recent years

ICM and Malakut are identifiable as their most prominent indigenous competitors

Four brokers generate around 90% of their total revenues from commercial lines broking

International broker networks

MAI Insurance Brokers and Malakut have signed up as members to the most networks

Future outlook

The value of Russia’s commercial lines broking market is likely to continue rising up to 2019 

18.0 SPAIN

Introduction

Regulatory information

There are over 3,000 registered insurance brokerages in Spain…

… and the number has not fallen in spite of a declining commercial lines market

Commercial non-life insurance market

The Spanish market for commercial non-life insurance reached a five-year low in 2014…

… before picking up somewhat in 2015

The micro segment generates a significant proportion of total commercial lines premiums in Spain

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The value of commercial non-life insurance broking revenues has fallen back in recent years

One segment (as measured by client size) accounts for just under 30% of these revenues

Competitor trends

The structure of the Spanish commercial lines broking market has changed little since 2011…

… as it remains quite fragmented, especially beyond the top three competitors

Commercial non-life insurance broking is the main source of revenue for most of the top 30 brokers...

... although some derive significant income from other activities

International broker networks

A number of brokers outside of the top 30 in Spain are members of international networks

Future outlook

A modest improvement in the market for commercial lines broking is expected by 2019 

19.0 SWEDEN

Introduction

Regulatory information

There are over 1,000 registered insurance intermediary firms active in Sweden

Commercial non-life insurance market

The Swedish market for commercial non-life insurance grew modestly between 2011 and 2015…

…with premiums moving up in value across all classes

Around 68.5% of total premiums are paid by entities in the micro, small and medium segments

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers in commercial lines rose quite significantly between 2011 and 2015…

… and most of their revenues from this activity derive from entities in the large and very large segments

Competitor trends

Acquisitions made by Söderberg & Partners have caused the market to consolidate somewhat…

… and have also propelled this firm to a market-leading position in commercial lines…

… even though it derives a majority of its revenues from intermediating other types of insurance

International broker networks

Söderberg & Partners has affiliated itself to six international networks

Future outlook

In real terms, the broking market is destined to rise at a compound annual rate of 3.0% up to 2019 

20.0 SWITZERLAND

Introduction

Regulatory information

The number of registered intermediaries has increased by almost 900 in a little over two years

Commercial non-life insurance market

Commercial non-life insurance premiums in Switzerland have been broadly stable…

… with the best growth achieved in the residual basket of ‘other’ commercial insurance

Premiums are concentrated most heavily in the micro and medium client segments

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers is likely to have risen quite significantly between 2011 and 2015

Competitor trends

Kessler & Co continues to lead the Swiss commercial lines broking market, followed by Aon

Formed in March 2014, Swiss Risk & Care is now a significant force (especially in French-speaking cantons)

Other indigenous broking firms somewhat limit the presence of international brokers…

… albeit Willis Towers Watson has strengthened its presence through the absorption of Gras Savoye

The merger of Swissbroke Group with Fraumünster Insurance Experts signals further consolidation

Two of the top 30 brokers generate all of their income from commercial non-life insurance

International broker networks

Three international networks lack Switzerland-based members

Future outlook

The commercial lines broking market is likely to have risen further in value by 2019 

21.0 TURKEY

Introduction

Regulatory information

Turkey's professional association for brokers has well over 100 members

Commercial non-life insurance market

The Turkish commercial lines market has boomed in recent years…

… with growth achieved in real terms across all categories

Almost 40% of premiums are due to clients that are defined as ‘large’ or ‘very large’

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

Turkey’s market for commercial lines broking appears to be expanding rapidly…

… and most business is secured from larger entities

Competitor trends

Marsh & McLennan Companies, Aon and April Genç are the market leaders…

… although the brokers ranked from fifth to 15th are all indigenous ones

13 of the top 15 brokers derive most of their revenues from commercial insurance

International broker networks

Only one international network lacks a Turkey-based member

Future outlook

A real compound annual growth rate of over 10% is forecast for the broking market up to 2019 303

22.0 UK

Introduction

Regulatory information

Close to 2,000 firms belong to the main association for insurance brokers in the UK

Commercial non-life insurance market

Commercial non-life insurance premiums contracted by over GBP 1 billion between 2011 and 2015…

… with only commercial property and miscellaneous other commercial business showing any growth

Larger clients account for a comparatively high proportion of commercial lines premiums paid in the UK

Commercial non-life insurance brokers

Overview of brokers’ presence in the distribution of commercial non-life insurance

The distribution share of brokers in the UK commercial lines market has remained stable in recent years

Over a quarter of commercial lines broking revenues are due to the largest client segment

Competitor trends

The UK’s commercial non-life insurance broking market has become significantly more concentrated…

… and is now led by Arthur J. Gallagher in the wake of its many acquisitions…

... followed by Aon

Acquisitions have also bolstered the share of Marsh & McLennan Companies and Willis Towers Watson…

… with Towergate Partnership pushed back into fifth position

Beyond the top five, no broker holds a share of more than 5% of total commercial lines broking revenues

After buying RKH Group, Hyperion Group has risen to tenth place in the ranking

For a number of the top 60 brokers, commercial lines is not their main source of revenues

International broker networks

A number of smaller firms outside of the top 60 belong to international broker networks…

… and the UK market is also characterised by the presence of at least seven domestic networks

Future outlook

Very modest growth is predicted up to 2019 for the value of the UK commercial lines broking market 

For a full list of tables and graphics in this report, please click here and scroll to page XI.

 

 

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