Agents and brokers struggling to grow in a shrinking economy cannot expect to see revenue bolstered by hardening commercial insurance prices anytime soon. So those without a new direction or alternative strategy to maximize shareholder value might want to consider selling their businesses, a consultant for the producer sector suggested.
The insurance industry is coming off its worst year in decades, noted Rob Lieblein, managing partner with Hales & Company, during his opening remarks here last week at the first of four seminars around the country on “Charting a New Course: Creating and Enhancing Shareholder Value.”
This year will be better, but only relatively so, because in terms of shrinking revenues–thanks to a contracting economy and premium declines in a persistently soft insurance market–”the base can't get any lower,” Mr. Lieblein added at the seminar, presented by Hales & Company and sponsored by Summit Business Media, National Underwriter and American Agent & Broker.
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