06/19/2026
The independent insurance agency system has been in a period of prolonged consolidation for the past 30 years, with no signs of a real slowdown. According to the 2024 Agency Universe Study, the number of independent insurance agencies has declined by 12% since 1996.
While there was a 10% increase in the number of agencies in 2022—a temporary COVID bump—the independent agency system has lost 18% of its agencies through 2020. Further, due to continued consolidation, we may see another 1,000 to 2,000 agencies lost when the next Agency Universe Study is published later this year.
Full article below.
https://hubs.la/Q04m0Yc60