WFG Analysts Say Insurance Brokers' Outlook Cloudy
NU Online News Service, April 19, 3:12 p.m. EDT?Leading insurance brokers, in the wake of the probes into fee improprieties, are reporting a continuing drop in revenues, according to research by WFG Capital Advisors LP, an investment banking firm for the insurance industry.[@@]
Steven Wevodau, managing principal of Harrisburg, Pa.-based WFG, said, "2004 results among the leading distributors contained in WFG's Broker Insights report support that industry leaders continue to show declines in organic revenue growth. In essence, the organic revenue growth composite is decreasing at an increasing rate."
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