Covid-19: Experts concerned about financial resilience of brokers
Specialists outline worries for insurance space following FCA survey which showed 4,000 financial services firms are at risk, but Biba flags vaccine as a reason for hope.
A Financial Conduct Authority (FCA) survey into the financial resilience of firms has led experts to worry about the profitability of UK brokers.
The survey showed that the cash liquidity of brokers since Covid-19 had plummeted by 30%. Just over 3,000 brokers responded to the survey which examined sectors across the various financial markets.
In February brokers reported a cash liquidity sum of £16.2m but this fell to £11.4m when surveyed by the regulator for the second time.
Barometer
Branko
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