The number of independent insurance agencies in the U.S. has stabilized, with new ones founded between 2008 and 2010 replacing those lost, a trade association’s survey found.

Robert Rusbuldt

About 37,500 insurance agencies have been in business since 2006, and that number remained about the same for 2010 because the number of founded agencies equaled those lost as separate entities, primarily through mergers and acquisitions, according to the 2010 Agency Universe Study from the Independent Insurance Agents & Brokers of America.

Exactly 11% or 4,000 of the total number of agencies were founded over the last three years, the survey showed.

“Despite all of these [economic] challenges, many new agencies are forming, typically with a more diverse and younger leadership, demonstrating the strength of the independent agency system and the potential for growth,” Robert Rusbuldt, the Big I’s president and CEO, said in a statement.

The survey indicated that 50% of new agencies (founded since 2005) are located in the South, 24% in the South Atlantic states and 19% in the West South Central region. By comparison, 8% of new agencies are located in the Northeast, compared to 18% of older independent agencies, the survey showed.