Insurance insolvencies drop by 85%
The number of insurance companies going bust plummeted by 86.1% last month, compared to July 2011, according to statistics published today by Experian.
There was also a month-on-month fall with five companies failing in July, down on the six which became insolvent during June.
In total, July saw 0.04% of the insurance business population fail.
Meanwhile, for the economy at large, some 1,776 companies [0.09% of UK companies] went bust, compared to 1,962 during July 2011.
The biggest improvements in failure rates were recorded by firms with more than 501 employees as well as smaller firms with 11 to 25 employees.
The best performing regions were
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