M&A of high net worth focused businesses has created ‘one of the hardest markets’ for placing these specialist risks, says broker managing director
With Investopedia defining a high net worth individual as someone with liquid assets of at least $1m (£800,000), the high net worth (HNW) insurance market is often viewed as a lucrative sector by insurers.
But, consolidation and a number of significant market exits – such as Nationwide and Covéa exiting certain HNW lines last year – have led to a restriction in the capacity available to brokers.
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