Biba grows member funds to almost £5.8m
The British Insurance Brokers’ Association has revealed a 13% increase in members funds to £5.78m at the end of 2023.
This was down from a 21% rise in 2022.
Biba said in a statement that turnover in 2023 increased by 9.5%. The number of employees remained the same at 30 compared with the year prior.
The trade body’s results, filed at Companies House, did not detail profit nor loss nor level of turnover, in keeping with recent years.
I am pleased that Biba continues to produce a strong financial position while, at the same time, offering increased levels of vital support for members.
The 2023 report and accounts
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Marsh and LMG leaders call for proportionate regulation at parliamentary session
Chris Lay, CEO of Marsh McLennan UK and of Marsh in the UK, and Caroline Wagstaff CEO of the London Market Group, have called for proportionate and agile regulation of insurance in an evidence session at Parliament.
Aventum 100% staff owned as part of employee ownership scheme
Aventum is now 100% owned by its workforce under a new global employee ownership scheme with all staff having been rewarded with the equivalent of twice their annual salary in share value.
FCA warns principals against ‘tick-box’ approach to ARs
A review by the Financial Conduct Authority of its rules on appointed representatives has found some firms taking a tick-box approach to compliance, relying on basic information like website checks, or using self-declarations from their ARs to demonstrate effective oversight.
Axa UK & Ireland looks to Aviva for new CRO
Axa UK & Ireland has appointed Rahul Gumber as chief risk officer, subject to regulatory approval.
People Moves: 2 – 6 September 2024
Follow the latest insurance personnel moves.
Allianz reveals rise in cloned businesses motor fleet fraud attempts
Allianz UK has reported a “marked increase” in fake or cloned businesses claims coming through in the first half of the year, as it also highlighted strong collaboration with brokers has further heightened fraud awareness and detection.
Commercial Express launches tattoo and body piercing product
Commercial Express has launched a tattoo and body piercing product, giving brokers access to a customisable package product.
Lloyd’s notches up best interim COR since 2007 as profits grow
Lloyd’s has reported its combined operating ratio has improved to 83.7% in its half year results, its best interim COR since 2007.