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Little time left for insurers

The DTI says it is worried that insurance companies have too few graduate entrants and that their management is home-grown, narrow and conservative compared with other service industries. Much the same was said about the banks 15 years ago, and it took fierce competition, deregulation, takeovers and heavy losses to force through change, at enormous cost to shareholders. Insurers do not have so much time.

Edited by Peter Rodgers