Insurance insolvencies doubled in May

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Some eight firms collapsed during the period, markedly up on just four falling insolvent in May 2012, according to the latest UK business insolvency figures from Experian. 

The report found that 0.07% of the insurance business population failed, an increase on the 0.03% surveyed for May 2012.

Overall, of the UK's five biggest industries, hotel/leisure and building/construction were the most improved with insolvency rates falling from 0.16% and 0.18% in May 2012 to 0.11% and 0.14% respectively.

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