The insurance agency and brokerage system is stable, but challenges remain, notably for insurers in New York, according to Richard Poppa, president and CEO of the Independent Insurance Agents & Brokers of New York who presented on a panel at the fourth annual SNL Insurance Brokerage Summit today.

More than 20 executives, advisers and investors in the insurance brokerage industry shared their insights on strategic planning, growth and mergers and acquisitions at the one-day conference produced by the SNL Center for Financial Education. Poppa outlined the size and composition of the independent agency system and the significant report that there has been as many agencies formed in the last two years as have been merged or consolidated. The panel that Poppa participated on also discussed the direction of agency consolidations, prospects for organic agency and brokerage growth, as well as the industry’s current soft market and forecasts for change.

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