Brokers wasting £2.3bn in profit, says report
The UK insurance broking industry is wasting £2.3bn worth of profit every year, according to a new s...
The UK insurance broking industry is wasting £2.3bn worth of profit every year, according to a new study by business analyst Plimsoll Publishing.
The report revealed that 10% of companies were making a loss, while 6% were losing money for the second year running. In addition, 8% of companies were found to have made less than 3% return on investment.
The findings suggested a staggering 1,224 of the 1,654 companies covered would make more profit under new ownership, resulting in £2.3bn extra revenue
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Cost-of-living crisis pushes up premium finance demand
- Video Q&A: Close Brothers Premium Finance MD Shaun Hooper
- Ardonagh strikes A$2.3bn PSC deal