Brighter days ahead
The outlook is less gloomy with a strong possibility of improving conditions for commercial brokers in the next 12 months, says Tony Cornell
Since 2005, the UK commercial market has not grown at all. It was about £14bn of GWP at the end of that year and is just under £14bn now.
The year 2005 itself was important for two reasons: firstly it saw the introduction of broker regulation by the Financial Services Authority and secondly it was one of the most profitable ever for commercial brokers with profits probably peaking that year. They are not unrelated. The fat years of 2002-5 enabled brokers, consultants and others to fill up any
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