CGNU - an amalgamation of Commercial Union, General Accident, London & Edinburgh and Norwich Union to name but a few.
What's going on, there appear to be fewer and fewer insurance companies to choose from these days. All of the major companies are taking over the smaller companies, are we going to be left with one major insurer? If so what will happen to the good old high street Insurance Broker?? There will be no insurance companies left for them to offer, so therefore they will no doubt go.
So many insurance companies seem to be amalgamating i.e. Bishopsgate and Northern Star have become Fortis. Zurich have taken over Eagle Star. etc etc etc.
What is really peculiar also is that Insurance companies are out pricing the small insurance brokerage, with their direct products i.e. the same insurance quotation from Norwich Union against Norwich Union direct can be as much as £100 different. This must really put the pressure on the small brokers.
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