CII reports consolidated operating surplus of £3.3m for 2021

Revenue increase from educational activities

Ayesha Venkataraman
clock • 1 min read

The Chartered Insurance Institute (CII) has declared a consolidated operating surplus of £3.3m for 2021, as compared with a £4m operating deficit in 2020, according to its latest financial statement.

The financial report highlighted a £2.2m increase in revenue from qualifications and educational activities in 2021. Costs were saved, it said, as a result of local Institutes opting to voluntarily utilise their reserves before taking additional grant payments as well the CII's move from two offices to one last year, which led to reduced operating costs by £5.17m. The CII said the move was aided by its transformation over the last five years, allowing its staff to work from anywhere. The professional body's decision to proceed with the buy-out of the defined benefit (DB) pension sc...

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 Business

PA Awards 2024: Meet the Best Financial Advisers to Work For

PA Awards 2024: Meet the Best Financial Advisers to Work For

Identifying, recognising and honouring the best places of employment

Professional Adviser
clock 21 March 2024 • 1 min read
Divorce advice is 'niche' but needs more accredited IFAs

Divorce advice is 'niche' but needs more accredited IFAs

Clients can be like ‘rabbit in the headlights’ as divorce settlement nears

Jenna Brown
clock 20 March 2024 • 4 min read
All the advice firm acquisitions that have taken place in 2024

All the advice firm acquisitions that have taken place in 2024

Keeping track of the ongoing consolidation of the advice industry

Professional Adviser
clock 20 March 2024 • 1 min read