12 Jul Why Florida Insurance Agencies Are a Good Investment
Insurance is a many-faceted and complicated industry. How will the future of the Affordable Care Act impact health insurance? What impact will the increasing strength of hurricanes and wildfires have on property and casualty lines? How will the latest advances in technology affect an independent insurance agency? But, if you’re looking to invest in a Florida insurance agency that’s for sale, the most important question might be what does the market look like?
According to the 2019 Insurance Industry Outlook from Deloitte US, “Sustained economic growth, rising interest rates, and higher investment income are among the positive factors that appear to be bolstering insurer results in 2018, setting the stage for enhanced top- and bottom-line growth in the year ahead. The US property and casualty (P&C) side of the business got off to a particularly good start in the first half, with net income more than doubling compared to 2017.”
A Closer Look at Property & Casualty Trends
The experts at Deloitte point out that, “In the P&C sector, US premiums written grew 4.6 percent in 2017, the highest percentage in the past decade, before jumping by 12.7 percent in the first half of 2018.”
It’s true that the international picture is not quite as rosy, but if you start thinking about the possibilities every time you hear about insurance agencies up for sale, don’t let that discourage you.
“US P&C carriers have seen their insurable exposure base continue to expand for both personal and commercial lines, likely thanks in part to faster GDP gains, a shrinking unemployment rate, and higher consumer spending,” Deloitte reports in its 2019 Insurance Industry Outlook report.
Before you Buy an Insurance Agency
It’s important to consider the overarching trends in the industry, but there’s much more to consider before investing in an insurance agency that’s for sale. At Atlantic Business Realty, we have the expertise to assist you find a Florida insurance agency for sale that’s right for you.