UK financial companies, including insurers, feel less optimistic following the national vote to leave the EU, a quarterly PricewaterhouseCoopers (PWC) survey has found.

Sentiment fell in the three months to last month, marking the third straight quarter of decline and the longest period of deteriorating confidence since March 2009.

About 15% of 115 survey respondents are upbeat and 28% are less confident, giving an overall reading of minus 13% for the September quarter. The June quarter produced a reading of minus 16%.

It is the first PWC survey since the June EU referendum.

“The big-picture agenda of transforming business models to respond to customer, regulatory and technological changes continues apace, and now Brexit [brings] an additional ingredient to the mixture,” PWC UK Financial Services Leader Andrew Kail said.

On the Brexit negotiations, he said: “It’s still early days, and there is no real clarity on what future agreements will be reached.

“Consequently, many of our clients are considering their options… it’s the domino effect on people, productivity and position as a financial hub that must be guarded against.”

PWC carried out the survey between August 16 and September 1.