Lloyd's broker acquisition - a warning to proceed with caution
In your article about the Community Broking Group (PB, June 2004, p19), I read that one of its state...
In your article about the Community Broking Group (PB, June 2004, p19), I read that one of its stated aims is to acquire a Lloyd's broker.
Having been there (twice) I would caution it and other regional firms with similar ambitions that this is when its troubles will really begin.
Apart from the fact that ownership of a Lloyd's broker will make the group less attractive and more difficult to sell, there are other disadvantages, which include the following:
- Lloyd's brokers often have tails that
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