UK brokers buoyed by financial results

Europe

UK insurance brokers are “in a surprisingly confident mood” according to the results of a poll conducted by Plimsoll. Despite recent concerns over the domestic and international markets, David Pattison, senior analyst at Plimsoll, said brokers have been buoyed by recent results. “We have identified a group of 233 companies which are the driving force behind the resurgence, having increased their sales by 18% and lifted their profitability from 8.1% last year to 17.1% this year”, Mr Pattison said. The survey also found that levels of investment are increasing for the first time in five years but Plimsoll reserved some concern for a group of about 90 companies which could struggle to survive if the general economic picture worsens during the next six months, it said.