Personal lines business accelerated its growth rate for the third consecutive year to 3.9%, "which… is the fastest growth rate recorded for personal lines in the 11-year history of the OGP survey," Kevin Stipe of Reagan Consulting said in a press release. (Photo: iStock)
Independent agents and brokers have a lot to look forward to in 2019. After closing the books on their best year since 2014, Reagan Consulting's Organic Growth and Profitability (OGP) survey for the fourth quarter of 2018 shows "a convergence of impressive upward trends in each major line of business," Kevin Stipe, president of the firm, said in a press release.
OGP participants generated organic growth of 6.1% in 2018, surpassing the projected organic growth rate of 5% for the year. Growth was driven by continued increases in U.S. GDP and commercial pricing. For 2019, OGP participants are forecasting growth of 7%, which would be the highest growth rate since Reagan Consulting began its quarterly OGP survey in 2008.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
