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Falling Number of Insurance Brokers in the UK
12th February 2015


The number of FCA-registered insurance brokers (such as Realty) has fallen by more than half since compulsory regulation began 10 years ago. When the FSA took over from the General Insurance Standards Council in January 2005 there were 7,496 registered firms. This compares to just 3,597 firms in December 2014.

The key reasons for the decline include the fact that, when compulsory regulation came into force, many brokers decided to shut up shop rather than face the additional burden of regulation. A further problem is that obtaining an agency from an insurance company is now far more difficult. A lack of access to finance has also led to consolidation as it has made management buy-outs and other succession plans more problematic to implement.
Realty Insurances Limited is an independent intermediary, authorised and regulated by the Financial Conduct Authority (FCA).
You can check these details on the Financial Services Register by visiting the FCA's Website www.fca.org.uk or by
contacting the FCA on 0800 111 6768. Our FCA register number is 307515.

Registered Office: 58 Davies Street, London W1K 5JF. Registered in England No. 482966.
 
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