Retention As an IA?

[GMANPRO]

Looking for overall and 1st year retenion for a P&C IA. Anyone mind posting theirs?

 

[1manshow]

Probably varies like crazy.

Mine is 92.6 right now... assuming you're talking P&C

 

[GMANPRO]

Sorry guys! IA, P&C ONLY, arizona.

 

[Bertolinoins]

89.8% over the past 4 years. Industry average is 85% but most of the better established IA's are above 90%. Our retention took a hit when we had an agent with quite a few Hotels/Motels when Farmers decided to buy the market with premiums 30% below anything we could do. Farmers seems to have gotten burned as many of those accounts are starting to migrate back to IA carriers.

 

[Guest]

that is all going to depend on the type of business you have, if you have alot of substandard, then retention will be lower...

But you need/should be in the 90's at least...