Third year of institute operating losses at CII
The Chartered Insurance Institute has revealed an operating loss of £760,000 for 2022 in its institute division, where revenue and membership fell as the wider group swung back to overall profit.
The operating deficit was lower than the £1.47m delivered in 2021. Operating income at the institute fell 2% year-on-year to £24.88m.
However, after tax and non-operating items, the division achieved a £212,000 profit as net assets crept up to £9.55m.
In the financial statement the organisation reported: “The Institute has sufficient financial resources to navigate this period as it continues the journey to profitability, where the profits may be used to rebuild reserves and invest in more
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