In industry news:

Organic revenue growth at privately-held large and mid-sized insurance agencies bounced to 5.1 percent for the first quarter of 2016, up from 4.6 percent for the full year 2015, according to the latest Reagan Consulting Organic Growth and Profitability (OGP) survey. The survey also found that profit margins were slightly lower at 28.5 percent in the first quarter of 2016, compared with 29.0 percent for the first quarter of 2015. That median profitability, measured by EBITDA (earnings before interest, taxes, depreciation and amortization), was still strong by historic standards. First-quarter profit margins are always inflated due to contingent income, but are expected to finish 2016 at approximately 20 percent.

Read more via Insurance Journal here.

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