Reagan Consulting’s quarterly Organic Growth Survey (OGP) has good news for independent insurance agents. First the good news from last year. Spokesman Kevin Stipe said — for agents — last year was the best year since 2014. He said the fourth quarter of 2018 was a “convergence of impressive upward trends in each major line of business.”
Participants in the OGP survey said they saw organic growth of 6.1% last year. That topped the projected growth rate of 5%. Reagan is predicting 7% this year and that’s the highest rate seen since the quarterly survey began in 2008.
Stipe listed the best performing groups:
• Topping them all was employee group benefits. It grew by a rate of 7.3%. That was two-points higher than the 2017 rate.
• Commercial lines was next. It, too, rose 2% from the 2017 rate and ended up at a 6.5% increase.
• Personal lines also did well and rose for the second consecutive year. The hike was 3.9%. That — Stipe said — is “the fastest growth rate for personal lines in the 11-year history of the OGP survey.”
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