82 / 168
2014 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
Average Total Revenues: $7,087,464
Population Density of Metropolitan AreasWhere Home Office is Located
Average
+25% Profit
+25% Growth
Less than 50,000
29.7%
22.2%
22.2%
50,000 – 250,000
21.6%
33.3%
22.2%
250,000 – 1,000,000
13.5%
22.2%
11.1%
More than 1,000,000
35.1%
22.2%
44.4%
Corporate Structure
C
19.4%
22.2%
22.2%
S
63.9%
55.6%
66.7%
Partnership
5.6%
11.1%
11.1%
LLC
11.1%
11.1%
0.0%
Sole Proprietorship
0.0%
0.0%
0.0%
Average Number of Agency Locations
(Main Offices and Branch Offices)
3.3
3.0
3.4
Total Square Footage of Office Space
13,729
10,479
14,122
# of States in which Offices are Located
1.2
1.1
1.3
Agency has an ESOP
5.4%
22.2%
11.1%
% of Stock Owned by ESOP
60.0%
60.0%
100.0%
Shareholders
Number of Shareholders (excluding ESOP)
4.2
3.4
2.6
High
9.0
Low
1.0
Ownership Percentage
% Owned by Largest Shareholder
57.8%
65.6%
71.4%
High
100.0%
Low
12.5%
Shareholder Age
Current Age of Largest Shareholder
59.3
63.4
59.8
Parent Corporation
Average
% of Agencies Owned by Another Corporation
3.0%
Description of Parent Corporation
Financial Institution
100.0%
National Broker
0.0%
Other
0.0%
Member of Group
% of Agencies Belonging to a Franchise, Cluster,
Alliance/Network or Aggregator Group
18.9%
Other included Insurance & Risk Managers, Northern
United Agents Alliance, ISU, Insurors Group, Combined
Agents of America, Assurex Global, Keystone Insurers
Group, Benefits Advisors Network, and Intersure.
Profile
(of Agencies in this Study Group)