News

Industry chatter around lack of UK-based M&A targets is ‘nonsense’ – Phil Bayles

By 2023-01-16T11:21:00

target, consolidation

Ardonagh Advisory’s chief commercial officer gives Insurance Times his opinion on the current lay of the land around broker consolidation

Following 2021’s rampant uptick in broker consolidation, many market commentators feel the UK is running dry on potential M&A targets, with firms such as PIB Group instead focusing its M&A ambitions on Europe.

However, Ardonagh Advisory’s chief commercial officer, Phil Bayles, believes this view is “nonsense” because UK general insurance broking is a “very entrepreneurial market” where “people are always coming up with new ideas or new ways to serve clients”.

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