Consolidation. Amalgamation. Mergers. Acquisitions.
Above are words we have seen time and time again describing the situation in the London Insurance Market of recent years. A mixture of corporate ego battles and huge scale growth strategies, we have witnessed the largest M&A deals this market has ever seen.
So how does this affect talent? In other words, how does this affect you?
Historically a large majority of business permeating through the London market is via the Big Three London Market intermediaries. With the two largest each acquiring a close neighbour broker, on paper we could be looking at varying degrees of monopoly (or even duopoly) in certain business classes/territories.
With regards to the most recent deal in the press, I’m not an expert or will even begin to understand the complexities around regulatory requirements for this type of M&A, however I am confident elements will be discarded by instruction – and that is without the addition of natural disbursement of talent which invariably follows big M&A activity.
The natural disbursement of talent is rendered by a multitude of reasons; an example being a lack corporate culture alignment or a reduction in personal autonomy – particularly for Brokers and those who control client accounts.
So, who stands to benefit from this disbursement of talent? Small independent brokers, the mid-tier of brokers beneath the big three and new start-up operations. As these all achieve growth, they become attractive homes for big ticket executives and business controllers disbursed from large scale M&A deals.
At Arthur we pride ourselves on being connected to the market to the best of our ability as proven suppliers of talent. Many of our clients are seeking growth opportunities and have partnered with Arthur to support these plans.
Always happy to chat on the phone, over a coffee (talking of monopolies, this will invariably be in a Pret currently) or over a Video Call, which seems to be the new norm, if you wish to share thoughts or discuss a move.
By Tom Davey
To get in touch with Tom give him a call on 0203 5877 471 or email td@arthur.co.uk
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