The FCA has published it latest 6-monthly Appointed Representatives data, showing the numbers of ARs in different financial services sectors and the revenue generated by ARs in those sectors.
- As at February 2025, the UK AR population was 33.831, compared to 38,184 in February 2022, and compared to the highest number of ARs of 38,741 in February 2019.
- The number of Principal firms has dropped from 3,333 in February 2022 to 2596 in February 2025.
- As at December 2024 there were 7,359 ARs in the general insurance and protection sector, with this sector showing the biggest decrease in AR numbers during 2024 (down by 587).
- General insurance and protection had 21.7% of all UK ARs as at December 2024, but was responsible for generating 32.15% of all regulated financial services revenue generated by ARs – £3.56bn.
- The general insurance and protection sector has seen steady decreases in AR numbers since 2013, with noticeable drops in 2018 and 2021.
- The FCA has also updated and refreshed the content in its ‘Responsibilities and how to oversee your Appointed Representatives’ and ‘Principals and Appointed Representatives‘ web pages.