56 / 168
2015 Best
Practices Study
Agencies
with Revenues
Between
$2,500,000 and
$5,000,000
56
Analysis of Agencies with Revenues Between $2,500,000 and $5,000,000
Key Benchmarks
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Note: See page 163 for an explanation of column headings
AVERAGE TOTAL REVENUES: $3,516,679
Average
Top 25% Pro!t Top 25%Growth
Population Density of Metropolitan AreasWhere Home O!ce is Located
Less than 50,000
34.0%
63.6%
36.4%
50,000 – 250,000
25.5%
9.1%
18.2%
250,000 – 1,000,000
14.9%
18.2%
18.2%
More than 1,000,000
25.5%
9.1%
27.3%
Corporate Structure
C
17.0%
27.3%
45.5%
S
57.4%
36.4%
45.5%
Partnership
2.1%
9.1%
0.0%
LLC
23.4%
27.3%
9.1%
Sole Proprietorship
0.0%
0.0%
0.0%
Average # of Agency Locations
(Main & Branch O!ces)
1.9
2.0
2.0
Total Square Footage of Office Space
7,332
6,159
6,778
# of States in which Offices are Located
1.2
1.0
1.1
% of Agencies with an ESOP
0.0%
0.0%
0.0%
% of Stock Owned by ESOP
0.0%
0.0%
0.0%
Shareholders
Number of Shareholders (excluding ESOP)
3.1
3.0
3.8
High
7.0
Low
1.0
% Owned by Largest Shareholder
66.5%
71.3%
56.8%
High
100.0%
Low
25.0%
Current Age of Largest Shareholder
55.6
59.2
52.6
Average
% of Agencies Owned by Another Corporation
8.5%
Description of Parent Corporation
Other included a holding company
and a commercial P&C agent.
Financial Institution
40.0%
National Broker
20.0%
Other
40.0%
Member of Group
% of Agencies Belonging to a Franchise, Cluster,
Alliance/Network or Aggregator Group
38.3%
Groups included Northlake Insurance
Group, Ltd., Agency Network Exchange,
CAA, Keystone Insurers Group, Combined
Agents of America, Assuralliance, SIAA
(Scan), Bay State Independent Insurance
Agents Association, Shared Agency
Services (SecureRisk), Trusted Insurance
Alliance, Paci"c Interstate Insurance
Brokers (PIIB) and Iroquois Group.
Pro!le
(of Agencies in this Study Group)