BREXIT CONTINUES TO WEIGH ON BUSINESS CONFIDENCE

Optimism in the financial services sector fell marginally in the second quarter of 2018 and improved in general insurance, according to the latest CBI/PwC Financial Services Survey. Optimism about the overall business situation has fallen in all but one quarter since the beginning of 2016, held back by uncertainty over Brexit. Location planning, people movements and client retention remain at the top of Brexit concerns, said PwC. Business volumes in insurance grew at a “tepid” pace while parts of the insurance sector saw profits improve, the survey found.