56 / 168
2014 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
Average Total Revenues: $3,472,462
Population Density of Metropolitan AreasWhere Home Office is Located
Average
+25% Profit
+25% Growth
Less than 50,000
29.2%
54.5%
36.4%
50,000 – 250,000
35.4%
18.2%
27.3%
250,000 – 1,000,000
10.4%
0.0%
18.2%
More than 1,000,000
25.0%
27.3%
18.2%
Corporate Structure
C
14.6%
27.3%
0.0%
S
62.5%
27.3%
63.6%
Partnership
4.2%
9.1%
18.2%
LLC
18.8%
36.4%
18.2%
Sole Proprietorship
0.0%
0.0%
0.0%
Average Number of Agency Locations
(Main Offices and Branch Offices)
1.6
1.6
1.6
Total Square Footage of Office Space
7,364
6,765
6,963
# of States in which Offices are Located
1.1
1.4
1.1
Agency has an ESOP
2.1%
0.0%
0.0%
% of Stock Owned by ESOP
100.0%
0.0%
0.0%
Shareholders
Number of Shareholders (excluding ESOP)
3.3
3.0
3.5
High
7.0
Low
1.0
Ownership Percentage
% Owned by Largest Shareholder
64.7%
74.7%
65.5%
High
100.0%
Low
25.0%
Shareholder Age
Current Age of Largest Shareholder
56.2
60.1
54.5
Parent Corporation
Average
Other included commercial P&C
agency and holding company.
% of Agencies Owned by Another Corporation
6.5%
Description of Parent Corporation
Financial Institution
25.0%
National Broker
25.0%
Other
50.0%
Member of Group
% of Agencies Belonging to a Franchise, Cluster,
Alliance/Network or Aggregator Group
31.3%
Other included Combined Agents of America, Trusted
Insurance Alliance, CAA, Secure Risk/Shared Agency
Services, Keystone Insurance Group, ARM of Illinois,
Consolidated Insurance Agents, Assuralliance, and
Northlake Insurance Group.
Profile
(of Agencies in this Study Group)