Personal lines market in the doldrums
Profit slumps, job cuts and collapsed takeover bids point to a difficult personal lines market
News from two major brokers brought the spotlight onto the personal lines broker market
last month.
Swinton announced, alongside a 48% profit slump, that it is to cut 120 roles and further reduce branch numbers to 400.
The broker’s chief Christophe Bardet defended the decision (see box) as being in line with growth plans and a generally positive approach to the market.
Brightside Group also hit the headlines as Markerstudy slashed its takeover bid from £123m to £100m. The Bristol-based broker
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