Brokers hit harder than insurers, says CBI/PwC survey
Insurance brokers’ profitability dropped back after an unexpectedly strong fall in the volume of business and value of premium income, according to the latest PwC survey for the Confederation of British Industry.
Total operating costs fell, but the decline in volumes was sufficiently steep to push average costs per transaction up strongly.
Profitability is expected to fall again, with volumes and premium income
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