Biba reports improved turnover but schemes income drops
The British Insurance Brokers’ Association (Biba) has reported a turnover of £3.2m for 2011.
This is a 14% increase on the £2.8m turnover recorded in 2010.
The trade body, which merged with the Institute of Insurance Brokers (IIB) in November 2011, reported that subscriptions accounted for £1.6m of total turnover, an improvement from 2010, where subscriptions amounted to £1.54m.
Biba’s schemes income showed a decline of 5%, going from £452,000 in 2010 to £429,000 in 2011.
The figures revealed in a filing at Companies House showed that the organisation’s operating costs went up by almost
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