Tom Baigrie: Have the stars aligned?

The natural pyramid structure of the protection market makes it difficult to unite around common goals, even when they are clearly of benefit to consumers and the businesses that serve them. The fewest and wealthiest businesses in the sector are the eight or so re-insurers who underwrite perhaps 90% of all the mortality and morbidity risk. The cohort below them, in terms of number and capitalisation are the insurers, perhaps 24 of them, the big ones all conglomerate businesses. The bottom tier are the 1000s of distributors, many banded into compliance and administration networks, but ...