It's that time of year again when the insurance industry shines a spotlight on its leading independent agencies. Insurance Journal's annual Top 100 report is out, and it’s always fascinating to see who’s making waves and how the landscape is shifting.
This year's report, the 20th of its kind, highlights a robust growth trend. A significant majority of the agencies featured saw their property/casualty revenue climb year-over-year. In fact, the combined P/C revenue for all 100 firms grew by over $5 billion between 2022 and 2023. That’s a substantial testament to the value these independent players bring to the market.
What's particularly interesting is the dynamic nature of this list. Every year, we see new faces join the ranks, bringing fresh perspectives and innovative approaches. This year, for instance, welcomed firms like Unison Risk Advisors, Hotchkiss Insurance Agency, The Plastridge Agency Inc., Haas & Wilkerson Insurance, Florida One Insurance, and Dean & Draper Insurance Agency LP. It’s always exciting to see these newcomers make their mark.
Of course, with new entrants come departures, often due to consolidation. Acquisitions are a common theme, with agencies like Eastern Insurance now part of Arthur J. Gallagher, and Graham Company and FBBInsurance joining Marsh. Eagan Insurance also fell off the ranking due to similar circumstances. While these moves signify industry evolution, they also underscore the importance of agility and strategic partnerships for independent agencies.
Looking at individual agencies, PointeNorth Insurance Group, founded in 2009, has steadily grown to become a significant independent agency in Atlanta. They emphasize a strong set of guiding principles – seven pillars, they call them – that shape their culture and drive their operations. Teamwork, service, creativity, integrity, humility, a rewarding work environment, and community involvement are clearly more than just buzzwords for them. It’s this kind of foundational commitment that likely contributes to their success and their broad offering of personal, commercial, and employee benefit insurance solutions.
These top agencies, whether established giants or rising stars, are more than just brokers. They are advisors, risk managers, and community partners. Their continued growth and adaptation in a competitive market speak volumes about their dedication to client service and their understanding of the ever-changing insurance world.
