CII posts surplus as PFS reports operating loss

First time PFS has seen operating loss since 2008

Jen Frost
clock • 3 min read

The Chartered Insurance Institute Group (CII Group) reported an operating surplus of £1.39m for 2023, as the Personal Finance Society (PFS) saw an operating loss for the first time since 2008.

While the Chartered Insurance Institute (CII) made an operating profit of £750,000, the PFS reported a £327,000 operating loss. CII Group total comprehensive income was £1.8m, according to its annual report. Both arms of the CII Group saw member numbers fall last year. The CII had 82,085 members in 2023, down 2,141. PFS member numbers stood at 39,665, a fall of 367. The body is reviewing its membership proposition and is aiming to deliver a "renewed service" by 2025, according to its annual report. During last year, the CII Group resolved a "historical" tax matter with HM Revenue & Cu...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Happy holidays from Professional Adviser

Happy holidays from Professional Adviser

Regular newsletters and content will resume on 2 January

Jen Frost
clock 23 December 2024 • 1 min read
The state of financial vulnerability in 2024 and what 2025 holds

The state of financial vulnerability in 2024 and what 2025 holds

'Most firms are now heading in the right direction with their vulnerability processes'

Richard Farr
clock 20 December 2024 • 3 min read
Feel Good Friday: BRI Wealth Management raises money for homeless charity

Feel Good Friday: BRI Wealth Management raises money for homeless charity

Firm has raised £650 for Let’s Feed Brum

Professional Adviser
clock 20 December 2024 • 1 min read