Organic growth for agents and brokers slows in third quarter
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Median organic growth for independent insurance agents and brokers slowed to a rate of 6.0% in the third quarter of 2014, down from 6.8% during the same period a year earlier, Atlanta-based Reagan Consulting Inc. reported Tuesday.
That pace represented a slight improvement from that of the second quarter of 2014, when the Reagan Consulting Organic Growth and Profitability survey measured organic growth at 5.8%. The survey also found that organic growth posted by publicly held brokers through the third quarter was 4.1%, below that of the overall broker group.
“The year 2014 is turning out to be a solid but not spectacular year for agents and brokers,” Reagan Consulting President Kevin Stipe said in a statement. “Organic growth is a bit slower than a year ago, and concerns about a softening market in commercial property and casualty insurance are building.”
Mr. Stipe noted that the recently released third-quarter commercial property/casualty pricing survey from the Washington-based Council of Insurance Agents & Brokers “indicates that we are currently in an ebb tide.”
“Rates are neither increasing nor decreasing,” he said.
The quarterly survey is based on information provided by about 150 midsized and large agencies and brokerages.
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