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2008 Best Practices Study | Agencies with Revenues Between $5,000,000 and $10,000,000 | Profile
Agencies with Revenues Between $5,000,000 and $10,000,000
Appendix
Insurance
Carriers
Technology
Service
Staff Info
Producer
Info
Employee
Overview
Financial
Stability
Revenues/
Expenses
Profile
PROFILE
(of Agencies in this Study Group)
A. Average Total Revenues: $7,214,338
B. Population Density of Metropolitan Areas Where Home Office is Located
Average
+25% Profit
+25% Growth
Less than 50,000
22.2%
23.5%
19.5%
50,000 – 250,000
33.3%
32.4%
31.7%
250,000 – 1,000,000
25.9%
23.5%
24.4%
More than 1,000,000
18.5%
20.6%
24.4%
C. Corporate Structure
C
25.9%
29.4%
31.7%
S
63.0%
58.8%
51.2%
Partnership
3.7%
2.9%
4.9%
LLC
7.4%
8.8%
12.2%
Sole Proprietorship
0.0%
0.0%
0.0%
Total # Agency locations
3.0
2.0
5.3
Agency has an ESOP
18.5%
42.9%
0.0%
% of Stock Owned by ESOP
64.5%
59.4%
0.0%
D. Shareholders
Number of Shareholders
(excluding ESOP)
4.5
3.1
5.2
High
10.0
Low
1.0
E. Ownership Percentage
% Owned by Largest Shareholder
(excluding ESOP)
54.5%
56.9%
59.3%
High
100.0%
Low
7.5%
F. Shareholder Age
Current Age of Largest Shareholder
54.8
55.4
52.8
G. Parent Corporation
“Other” includes AAA,
joint venture, and another
insurance agency.
Agency is Owned by Another Corporation
7.7%
Description of Parent Corporation
Financial Institution
50.0%
National Broker
0.0%
Other
50.0%