...Rating Trend -- Stable Fitch's stable rating outlook on the U.S. insurance broker sector reflects an expectation that operating performance and balance sheet strength will remain supportive of existing ratings. Limited rating changes are anticipated over the next 12¡24 months, and credit fundamentals are likely to modestly improve. Sector Trend -- Stable Fitch's stable sector outlook recognizes a return to flat or declining rates in commercial segments and a soft reinsurance market that will limit organic growth. Revenues from diverse product and geographic platforms should partially offset these forces and insured exposure growth from a more stable economy will promote revenue expansion. The evolving healthcare environment could still provide opportunities for employee benefits/consulting businesses. Acquisitions Ramp Up The overall pace of broker acquisitions increased in 2014 due to an improving global economic environment with low interest rates and an overcapitalized property/casualty...
