This is a serious question, though perhaps a bit ahead of its time.....

I find that comment very interesting coming from someone who is generally as well informed as you are. Had you made that comment 10 years ago it would have been correct. The insurance industry has seen more consolidation in the last 10 years than, I would guess, the previous 50. The most recent example being HHG selling it's life business to one of the companies set up purely to buy blocks of closed business but there are many more. There is more to come I agree but we are in the middle of this consolidation not at the start.

I agree that the need for the industry especially regarding savings is very much less now than it used to be but the requirements of people on TMF are rather different to population as a whole.

From an investment viewpoint I guess either pick one of the strong players who will be around for some time to come e.g. L&G, Aviva or try to get a stake in a company that is taking part in the continuing consolidation. There are a number around but I think many are private or owned by other insurance companies. I'm sure someone can suggest who the public ones are. If I get the time I'll try to do a little research.

Deucetoace