134 / 204
2013 Best
Practices Study
Agencies
with Revenues
Between
$10,000,000 and
$25,000,000
134
Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000
Key Benchmarks
Mgmt. Perspectives
Profile
Revenues
Expenses
Profitability
Employee Overview
Producer Info
Service Staff Info
Technology
Insurance Carriers
Appendix
Average Total Revenues: $15,558,870
Population Density of Metropolitan AreasWhere Home Office is Located
Average
+25% Profit
+25% Growth
Less than 50,000
9.1%
0.0%
0.0%
50,000 – 250,000
15.2%
12.5%
0.0%
250,000 – 1,000,000
39.4%
62.5%
37.5%
More than 1,000,000
36.4%
25.0%
62.5%
Corporate Structure
C
27.3%
25.0%
25.0%
S
51.5%
50.0%
37.5%
Partnership
3.0%
0.0%
12.5%
LLC
18.2%
25.0%
25.0%
Sole Proprietorship
0.0%
0.0%
0.0%
Average Number of Agency Locations
(Main Offices and Branch Offices)
5.3
4.0
5.8
# of States Offices are Located in
1.5
1.1
1.4
Agency has an ESOP
30.3%
37.5%
0.0%
% of Stock Owned by ESOP
50.0%
57.1%
0.0%
Shareholders
Number of Shareholders (excluding ESOP)
10.6
10.8
5.9
High
25.0
Low
2.0
Ownership Percentage
% Owned by Largest Shareholder
38.9%
35.8%
41.7%
High
95.0%
Low
11.0%
Shareholder Age
Current Age of Largest Shareholder
56.4
56.9
58.6
Parent Corporation
Average
% of Agencies Owned by Another Corporation
12.5%
Description of Parent Corporation
Financial Institution
50.0%
National Broker
25.0%
Other
25.0%
Member of Group
% of Agencies Belonging to a Franchise, Cluster, Alli-
ance/Network or Aggregator Group
27.3%
Groups Included Assurex Global, Intersure, and
C2Centric.
Profile
(of Agencies in this Study Group)
Reason for Joining Franchise/Cluster/etc.
Back Office
Support
16.7%
Market Access
16.7%
Profit
Sharing
0.0%
Other
66.7%
Other reasons included networking and
international relationships.