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PwC sees financial service confidence

London: Financial services business volumes continued to grow strongly and optimism improved in the three months to June, according to the latest CBI/PwC Financial Services Survey. The life insurance sector was the exception, with business volumes shrinking and optimism falling.Overall profits growth for the sector dipped slightly as a sharp fall in average operating costs and strong business volumes growth were offset by flat average commissions, fees and premiums. Profitability is expected to rise strongly next quarter, with growth in business volumes accelerating.

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