LONGWOOD, Florida, June 30, 2018 –Insurance Office of America (IOA) once again has been ranked one of the largest insurance brokerages on Business Insurance’s 2018 Largest Brokers of U.S. Business list. In a year that the company celebrates its 30th anniversary, IOA moves up to the 23rd position in the rankings, one position higher than the previous year.
“It’s pretty special to be the 23rd largest broker in only 30 years, especially because our growth has been mostly organic,” said Heath Ritenour, CEO of Insurance Office of America. “What gets me most excited about looking over this list is how few privately held companies there are. Unlike many of our peers, we didn’t acquire a large portion of our revenue.”
With its retention percentage in the high 90s and a steady growth rate that outpaces most of the industry, IOA is poised to continue solidly on its current trajectory.
“Just about everyone our size or larger is either a Wall Street firm or owned by a private equity company,” said Ritenour. “I believe being a private company that has a long-term view and is built to be generational is one of our greatest advantages and one that our peers who have to think short term just can’t compete with. We have the freedom to focus on serving our customers, our partners, and our team members first.”
The 2018 rankings are based on revenue earned in 2016 and do not include brokers that derived more than 49 percent of their gross revenue from personal lines business.
Insurance Office of America (IOA) is a full-service insurance agency founded in 1988 and one of the fastest-growing independent agencies in the United States. IOA is ranked 12th on Insurance Journal’s 2017 Top 100 Independent Property/Casualty Agencies report and 23rd on Business Insurance’s 2018 100 Largest Brokers of U.S. Business list. Headquartered in Longwood, Florida, part of the greater Orlando community, IOA has more than 1,000 associates located in over 50 branch offices in the U.S. and London.