Robust organic growth, fueled by buoyant commercial lines pricing and employee recruitment, and the acquisition of a large personal lines agency enabled Alliant Insurance Services Inc. to break into the Business Insurance ranking of the world’s 10 largest brokerages for the first time this year.
Robust organic growth, fueled by buoyant commercial lines pricing and employee recruitment, and the acquisition of a large personal lines agency enabled Alliant Insurance Services Inc. to break into the Business Insurance ranking of the world’s 10 largest brokerages for the first time this year.
The firm commercial insurance pricing environment is creating a tailwind for most brokers, said Greg Zimmer, president of Alliant. “That’s one of the reasons you see organic growth for all brokers higher than it has traditionally been.” The rate of increases, though, is moderating, he said.
“Businesspeople are taking a much harder look at their expenses and how to control them. To a degree, you’re seeing higher deductibles or perhaps lower limits to control the insurance spend,” Mr. Zimmer said.
Commercial retail revenue at Alliant rose 39.8% to $1.44 billion, employee benefits revenue grew 22.5% to $569 million, wholesale rose 18.1% to $244.38 million and personal lines soared 487.74% to $309.15 million.
Mr. Zimmer said the large increase in personal lines revenue was tied to the purchase of Confie, which specializes in nonstandard auto coverage. In addition, the 2020 acquisition of Senior Market Sales Inc. expanded Alliant’s Medicare business, which continued to grow in 2021, he said.
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The consistent increase in false advertising claims targeting consumer-facing companies has revealed a significant gap in insurance coverage.
