Profit margins for UK brokers at highest level in eight years

Average company profit margins for UK insurance brokers have reached their highest levels in eight years, according to research by Plimsoll Publishing.

The figures showed that average profit margins are 5.7% for the current year, which is up from 5.4% for last year.

The business stated that UK brokers had seen average profit margins increase consistently over the past year, with the exception of companies with sales between £3m and £5m, which saw average profit margins drop from 10.6% to 7.6%