Cornell Consulting has published its list of the top 250 commercial provincial brokers.
According to the report, the top 250 brokers in the UK now control 40% more premium income than at the start of the year.
A statement said: "2002 was the most profitable ever for general insurance broker. 2002 must be regarded as being the top of the cycle and profits should now decline as rates soften."
Also, the report said 20 brokers have merged or joined a network during the last year. Acquisition activity doubled between 2001 and 2002, reflecting the uncertainty of the future for brokers under regulation, the report claimed.
A statement said: "The major influence on activity was The Folgate Partnership who purchased five in the sector and from nowhere is now the largest."
