Oklahoma City – Just 10 years after its founding, Oklahoma Agents Alliance is now one of the United States’ largest independent property/casualty insurance agencies, according to the August issue of Insurance Journal.
Insurance Journal announces 10-year-old firm is now one of nation’s largest
OAA entered the list at No. 87 and is one of only three Oklahoma-based companies named in the annual ranking. Insurance Journal bases the list on premiums written in the previous year, a standard benchmark for the insurance industry.
“It’s happened so quickly that I think many people will be surprised to see us on the list,” said Chris Torres, president. “We started in 2001 with just one member agency, but the success of our model has attracted more than 80 agencies from across the state to join us in creating a vibrant organization that allows our members to compete with even the largest national agencies.”
OAA’s mission is to establish a network of independent insurance agencies in Oklahoma owned in partnership with entrepreneurial-spirited individuals. Member agencies remain truly independent, making their own decisions and pursuing their own strategies. At the same time, OAA’s leadership forms relationships with national carriers, creating opportunities that were previously unachievable for most agencies in Oklahoma. OAA also provides member agencies advice and support, and negotiates bonuses and profit-sharing with partner companies like Travelers, The Hartford, Safeco, MetLife and others.
“Our growth rate has outstripped even our own optimistic early projections,” said Tony Caldwell, partner. “We have enjoyed an average annual compound growth rate of 31 percent over ten years, and that’s been through some of the hardest economic times the country has seen in recent memory.”
OAA expects to exceed $142 million in premiums this year, and Torres said they expect to break the $250 million mark by 2015.
“This achievement proves that the partnership model OAA uses is not only feasible but very successful for our member agencies, no matter their size or history,” Torres said. “We are proud to represent Oklahoma on the national insurance scene.”
Oklahoma Agents Alliance is a growing network of independent insurance agencies in Oklahoma. OAA offers growth opportunities to agencies that want to remain independent while also being able to compete with larger regional agencies and clusters. OAA is a member of SIAA, a national organization that writes in excess of $6 billion in combined premium value. OAA is among the largest writers of insurance in Oklahoma. Find us on the web at oaaonline.net.