NU Online News Service, June 3, 2:44 p.m. EDT
BROOKLYN, N.Y.--While true merger and acquisition activity in the property-casualty insurance industry isn't occurring at the pace of prior soft markets, a form of consolidation is occurring, fueled by concerns of agents and brokers, an insurance executive said.
Jay Fishman, chair and chief executive of Travelers, made the observation during the opening session of Standard & Poor's Insurance 2009 Conference on Monday in New York, noting that agents are concerned about carrier service capabilities.
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