Analysis

Briefing: Consolidation shrinks UK broker volume – but paves way for new talent and insurtech entries

By 2025-03-27T07:00:00

Stuart Reid

The number of retail brokers regulated by the FCA has reduced by 46% between 2006 and 2024 – this is leading to new trends and acquisition focuses across UKGI in 2025. However, more M&A is definitely on the cards…

According to the FCA’s retail intermediary market data from 2006/7, there were 8,261 authorised firms at this time. In 2023/24, this figure had fallen to 3,809 – a reduction of 46%.

This is a shocking statistic, especially considering that regulation in our sector was designed to promote choice for consumers. This is harder to do when nearly half of the brokers established just under 20 years ago no longer exist.

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