Appointed representatives and principals study

https://lnkd.in/eY3FYznk

Interesting study from hashtag#FCA. Key points are:

·      At the end of February 2025, there were 2,571 principals and 33,830 ARs, a reduction of 190 principals (7.4%) and 410 ARs (1.2%) over the year from February 2024

·      Since 2007, the population of ARs in general insurance and protection has been gradually decreasing while the number of ARs in consumer finance has been growing.

·      In 2024, ARs generated £11.1bn regulated revenue from financial services. Of this, £2.4bn came from ARs whose principals are mainly retail investment firms, £3.6bn from insurance firms and £2.3bn from consumer finance, of which £709m was from mortgage broking