In a positive sign for the insurance industry, independent agents and brokers posted median organic growth of 5.9 % for the second quarter of 2015, slightly higher than the 5.8% recorded in the first quarter of 2015 and second quarter of 2014, as measured by the Reagan Consulting Organic Growth and Profitability (OGP) quarterly survey.
“Industry organic growth has now been in a relatively tight band of 5% to 7% for 14 consecutive quarters,” commented Kevin Stipe, president of Reagan Consulting, a management consulting and merger-and-acquisition advisory firm for the insurance distribution system. “Times are good for insurance brokers.”
The second quarter of 2015 saw continued strong organic growth that boosted profitability to 24.6%, the highest second-quarter performance since the survey launched in 2008. Reagan noted that margins typically are inflated by cash-basis recognition of contingent income during the first half of each calendar year.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
