The insurance industry is beginning to come out of the soft market, meaning improved earnings for insurance brokers, according to Kelly S. King, chief executive officer with Winston-Salem, N.C.-bank BB&T.
"We're just beginning to see the silver lining on the soft market," said Mr. King during a conference call with analysts to discuss the company's fourth-quarter results, which saw net income drop 26 percent.
BB&T, which owns the brokerage firm BB&T Insurance Services and wholesale broker CRC, said at the wholesale end some hardening in prices is beginning to take place, and when that occurs, the retail market soon follows.
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