Exams uptake and qualifications on the increase too
The Chartered Insurance Institute (CII) increased its membership by 6% during 2011 as its revenues rose by £4m for the year to £38.1m.
The Institute’s operating surplus increased to £1.9m, as did its net surplus.
The CII also enjoyed a significant uptake in exams and recognition of its thought leadership programme by other professional bodies and regulators.
In general insurance, 17,898 individuals held Chartered titles. Meanwhile more than 225 firms pledged their commitment to the Aldermanbury Declaration, thanks to the support of the CII. By year end 12 insurers and 94 broking firms held Chartered status.
The requirements of the Aldermanbury Declaration also contributed to an increase in demand for CII examinations – which climbed to 110,000 in 2011 from 85,000 in 2010 – as did a steady growth in examination entries in international markets such as the Middle East and Asia.
At the same time the CII processed more than 10,000 applications for recognition of non-CII qualifications and prior learning.
CII chief executive Dr Sandy Scott said: “As the CII celebrates its Chartered centenary the ongoing support of our members ensures we remain at the heart of the profession. There can be no better example of this than the Aldermanbury Declaration, which continues to enjoy an unprecedented level of support from the UK general insurance sector.
“Our clear, strategic plan and financial and operational strength means we can continue to invest in supporting professional standards as well as promoting the profession to the outside world, whether it is to government, regulators and other stakeholders, or the wider public. This has allowed the CII’s influence to grow, not just in the UK but increasingly across the world where we are rightly seen as the global standard.”
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