82 / 168
2015 Best
Practices Study
Agencies
with Revenues
Between
$5,000,000 and
$10,000,000
82
Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000
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: $7,242,280
Average
Top 25% Pro!t Top 25%Growth
Population Density of Metropolitan AreasWhere Home O!ce is Located
Less than 50,000
25.7%
12.5%
12.5%
50,000 – 250,000
25.7%
37.5%
25.0%
250,000 – 1,000,000
14.3%
12.5%
25.0%
More than 1,000,000
34.3%
37.5%
37.5%
Corporate Structure
C
17.1%
25.0%
12.5%
S
62.9%
62.5%
50.0%
Partnership
5.7%
12.5%
25.0%
LLC
14.3%
0.0%
12.5%
Sole Proprietorship
0.0%
0.0%
0.0%
Average # of Agency Locations
(Main & Branch O!ces)
3.2
2.9
2.9
Total Square Footage of Office Space
13,569
10,995
11,894
# of States in which Offices are Located
2.3
1.0
1.0
% of Agencies with an ESOP
8.6%
25.0%
12.5%
% of Stock Owned by ESOP
73.1%
59.7%
100.0%
Shareholders
Number of Shareholders (excluding ESOP)
4.1
4.2
3.4
High
8.0
Low
1.0
% Owned by Largest Shareholder
56.0%
50.6%
57.5%
High
100.0%
Low
20.0%
Current Age of Largest Shareholder
61.4
63.6
62.7
% of Agencies Owned by Another Corporation
12.4%
Description of Parent Corporation
Other included insurance company.
Financial Institution
50.0%
National Broker
25.0%
Other
25.0%
Member of Group
% of Agencies Belonging to a Franchise, Cluster,
Alliance/Network or Aggregator Group
34.3%
Groups included Combined Agents
of America, Northern United Agents
Alliance, Intersure, Assurex Global,
Keystone Insurers Group, Bene"ts
Advisors Network, Insurors Group of
Texas, PIIB, Insurors Group, New Jersey
Agency Partners, Insurance & Risk
Managers.
Pro!le
(of Agencies in this Study Group)