Business confidence continues to grow within general insurance, but it may have peaked, the latest quarterly CBI-Pricewaterhousecoopers (PWC) financial services survey has revealed.

According to PWC partner Clare Thompson, confidence among general insurers is still going up, but at a slower rate and "may have peaked".

Over the past three months, 70 general insurers experienced higher levels of business, while 42 of them expected this positive business climate to continue.

Thompson added: "General insurers are experiencing higher volumes, but not by as much as three months ago. This is mainly affecting personal lines, whereas commercial business has been consistent."

Building societies also reported sharp rises in volumes, while securities traders, fund managers and banks reported significant falls over the past three months.

After suffering its biggest fall for more than two years in the last survey, business confidence among financial services firms has stabilised, although business volumes have not risen.