MONACO–Ratings agencies here said they are not overly concerned about the shrinking number of reinsurance brokerages, but Lloyd's chief executive officer expressed uneasiness over announced merger plans for Aon and Benfield.
Richard Ward, Lloyd's CEO, told National Underwriter that he is "always concerned when any one player has a dominant position in a market–and it's very important they don't abuse that."
"The Aon-Benfield merger we watch with interest. The stats I heard were that they'll have market share of about 45 percent, with Guy Carpenter claiming 27 percent and Willis Re claiming 18 percent of market share," he said.
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