Last year's separations of the three major wholesale brokers–Swett & Crawford, Crump and Stewart Smith Group–from their respective parent retail brokerage firms have translated into new opportunities and additional investments, executives told National Underwriter. None of the developments might have occurred had contingency fee probes not raised conflict-of-interest questions for such retail-wholesale combinations.
For two, while separation brought organizational challenges, such as the need to re-establish independent administrative functions, newfound independence allowed them to rediscover marketplaces that were inaccessible to them because of their affiliations with their former parents.
For the third, the end of its affiliation with its retail partner paved the way for a new relationship with another pure wholesaler, whose chief executive feels the move is another step in firm's growth strategy.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.