"A combination of economic headwinds and commercial uncertainties combined with increasing risk exposures for businesses today, have in large part driven this growth"
The increase is a third more than was projected earlier in the year.
Mark Hutchings, managing director at Berkeley Alexander, commented: “Commercial insurance opportunities have clearly witnessed growth in the market. A combination of economic headwinds and commercial uncertainties combined with increasing risk exposures for businesses today, have in large part driven this growth, alongside mortgage brokers and advisers recognising the opportunities within their client bank.
"There has been a clear up swing in commercial sales in particular which is indicative of the economic environment as well as our business development growth strategy. As always, we will not stop here – we will continue to invest further across all areas of our business, as well as looking at other products to meet evolving client demands, and to ensure we continue to be the adviser’s general insurance provider of choice.”
