Broker consolidation in Birmingham is leading to the demise of many small brokers...
Small brokers are in danger of becoming a threatened species in the Birmingham and West Midlands area, according to Charles Earle, NIG's managing director of commercial lines.
The acceleration of broker consolidation is leading to the demise of many small brokers in this part of the UK, Earle has told an audience of brokers and SME managers at the fourth NIG business academy in Birmingham.
Earle said: "What we're seeing in Birmingham and the Midlands right now is the potential death knell of small players unless they adapt to the new realities of the business environment. They're being absorbed and overtaken by the so-called super regionals and the broker networks.
“What's driving these changes? A combination of factors: market conditions; ownership demographics; the need to drive down costs – particularly those relating to technology, and the impact of FSA regulation.”
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