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Good News for Independent Agents — 2019 Will be a Good One

Posted By Administration, Tuesday, March 12, 2019

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.”

Source link: PropertyCasualty360.com

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