A sector vanishes
Article Abstract:
Sedgwick Group has been acquired by Marsh and McLennan. This deal is part of a wider trend of global consolidation, with brokers hit by drops in premiums. Sedgwick is better able to become a global player through joining Marsh and McLennan, and the group can also boost margins by cutting costs through avoiding duplication. Marsh and McLennan estimates that minimum cost savings of $150 million can be made from the deal. More than 40% of Sedgwick's stockholders approve the deal.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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The small fish which eat each other
Article Abstract:
The current round of acquisitions and mergers by insurance brokers in London, England, has been prompted by the downward trend in world insurance rates. A shortage of disasters is causing the downward spiral in premium levels, with rates falling by some 20%/y. Among recent activity is the merger of JIB and Lloyd Thompson, and the acquisition of Fenchurch by Lowdnes.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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