The National Insurance Producer Registry — a nonprofit group that helps collect, store and distribute licensing data for insurance agents and brokers — reported strong revenue growth in 2022, but the equivalent of a sharp drop in earnings.
The Kansas City, Missouri-based organization is reporting the equivalent of $996,228 in earnings for the year on $67 million in revenue, compared with $16 million in the equivalent of earnings for 2021 on $62 million in revenue, according to the NIPR annual report.
Access and transaction fee revenue climbed 9.3%, to $67 million, and the number of insurance producer records in its database increased 3.3%, to 8.1 million records.
NIPR’s investments produced a $6.4 million net investment loss, compared with a $4.8 million gain for 2021.
NIPR ended the year with $52 million in investments, down from $58 million in investments a year earlier.
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