For the second consecutive quarter, insurance agencies and brokerage firms recorded accelerating growth, a new report from Reagan Consulting details.
The first-quarter of 2018 saw the highest organic growth since 2015 across all lines of business. Researchers predict this trend will continue throughout the remaining second half of the year.
Overall, first-quarter agency organic growth reported by the firms participating in Reagan Consulting's Organic Growth and Profitability Survey rose to 5.6%, representing a 44% increase over Q1 2017 and a 24% increase over Q4 2017.
|Q2 results by line of business
Researchers add that performance across all lines of revenue have exceeded expectations for the first half of the year. Brian McNeely, partner at Reagan Consulting, says personal lines provided the “biggest surprise” with the highest Q1 performance in the survey's history with 3.9%.
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Danielle Ling
Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].
