Broker sector: drop in profits
Insurance brokers suffered their eighth successive quarterly fall in business volumes and were the o...
Insurance brokers suffered their eighth successive quarterly fall in business volumes and were the only financial services sector to report a drop in profitability, according to a report by the Confederation of British Industry.
The survey, compiled with Pricewaterhouse Coopers, showed that in the final quarter of 2003 business volumes grew in every other sector, with fund managers and building societies experiencing the fastest growth.
The three months to December were described as a period of
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