Broking Break: Your top five of the week

number5

This week has been all about IPT when it comes to reader clicks. Discover the most read stories in our roundup.

5) AA warns of IPT hike in Osborne's Budget 


The AA has warned that insurance premium tax (IPT) could be subject to a further rise this year following last year's increase from 6% to 9.5%. The broker said it could go up following indications from Westminster sources that the Chancellor of the Exchequer, George Osborne, could "slip another 3% IPT increase under the radar in the Budget next week".

 

4) IPT increase to come into effect in October this year 


The standard rate of IPT

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JMG in quadruple deal swoop

JMG has snapped up four brokers, adding additional expertise in high-net-worth, commercial, motor trade, technical and specialist consultancy services to the Yorkshire-headquartered group, Insurance Age can reveal.

FSCS gives first insight on increasing levy to £394m

The Financial Services Compensation Scheme has indicated its levy for 2025/26 will rise to £394m from £265m this financial year as it cited having lower surpluses to carry forward and offset bills – a factor that has benefited brokers for two years in a row.

Konsileo seals £8m fundraise

Top 100 insurance broker Konsileo has completed an £8m fundraise to accelerate its expansion across the UK, Insurance Age can reveal.

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