Broker confidence hits low, claims CBI
The insurance broking sector saw a drop in profitability in the final quarter of 2003, the only financial services sector to do so according to a new report from the Confederation of British Industry.
The research, compiled with the help of Pricewaterhouse Coopers, found that business volumes rose in almost every business sector - ableit more slowly than the last quarter - with fund managers and building societies experiencing the fastest growth.Only life insurers and insurance brokers saw business fall with insurance brokers suffering their eighth successive quarterly fall. That was also the only sector to report a significant fall in confidence, the report added.
Fund managers and securities
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