Over the years, it has grown into a diversified shipping group, with expertise in ferry management, broking and all aspects of shipping.
There should be mandatory separation of broking and managing agencies' operations, with compulsory divestment by subordinate legislation only if this fails to work.
I wonder how many of them are connected with broking houses.
Indeed, insurance companies have not always been prepared to take broking organisations into their confidence regarding their investment policies.
I am not seeking to stigmatise all intermediaries, but it is essential to improve standards of responsibility in some areas of insurance broking.
It consists, in reality, of many diverse and dissimilar industries such as insurance, banking, commodity broking, shipbroking and so on.
Whether it be for reasons of morality or commerce, there is no one who does not believe in management separation of underwriting and broking.
It asserted in its defence that the company already had full separation of management functions between broking and underwriting.
