"Sustained organic growth and healthy industry fundamentals have led to some big bets being placed on both the acquisition and InsurTech fronts," Harrison Brooks, vice president of Reagan Consulting, said in a press release. (Photo: Shutterstock)
Independent insurance agents and brokers have cause to celebrate as the industry organic growth rate in the third quarter of 2018 was 6.1% — tied for the highest growth rate in the last 15 quarters — according to Reagan Consulting's Organic Growth and Profitability study.
All lines of business contributed to the strongest nine-month growth since September 2013. Commercial lines led industry growth at 6.8%, surpassing group benefits growth for the first time since 2014. Group benefits continued strong growth at 6.3% and personal lines — at 3.8% — posted its highest third-quarter growth rate since Reagan began the OGP survey in 2008.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
