Independent Insurance's collapse kills off FM Green's takeover plan.
Commercial broker FM Green has called off its plan to make a £4m-5m acquisition because its intended...
Commercial broker FM Green has called off its plan to make a £4m-5macquisition because its intended target became heavily affected by the
collapse of Independent Insurance.
Although the unnamed broker replaced cover with Royal & Sun Alliance, Ian
Richens, FM Green's chief executive, said: "We felt the expense of cover
replacement, which would filter down to customers at the time of renewal,
would cost the broker in policyholder loyalty."
It has subsequently postponed its growth by acquisition
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