UK brokers endure 3.9% annual revenue drop

Tax burden falling

The study blamed the weakness in commercial lines insurance for the 3.9% annual decline in brokers' revenues.

However, the UK was also joined by other mature markets - Germany, France, Italy, Austria and Spain among others - in suffering negative growth.

But the report stated these markets are now in a good position to take advantage of an uplift.

"Most of the mature markets have suffered from a soft underwriting cycle," it said. "Brokers in these countries can expect that once the cycle

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