166 / 204
2013 Best
Practices Study
Agencies
with
Revenues
Over
$25,000,000
166
Analysis of Agencies with Revenues Over $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: $53,756,487
Population Density of Metropolitan AreasWhere Home Office is Located
Average
+25% Profit
+25% Growth
Less than 50,000
3.8%
0.0%
0.0%
50,000 – 250,000
11.5%
0.0%
0.0%
250,000 – 1,000,000
53.8%
50.0%
33.3%
More than 1,000,000
30.8%
50.0%
66.7%
Corporate Structure
C
30.8%
50.0%
50.0%
S
53.8%
33.3%
50.0%
Partnership
3.8%
16.7%
0.0%
LLC
11.5%
0.0%
0.0%
Sole Proprietorship
0.0%
0.0%
0.0%
Average Number of Agency Locations
(Main Office and Branch Offices)
9.0
9.0
7.5
# of States Offices are Located in
2.8
2.8
2.8
Agency has an ESOP
26.9%
16.7%
16.7%
% of Stock Owned by ESOP
48.4%
25.3%
46.0%
Shareholders
Number of Shareholders (excluding ESOP)
38.1
47.5
52.6
High
183.0
Low
2.0
Ownership Percentage
% Owned by Largest Shareholder
26.5%
24.1%
41.6%
High
99.0%
Low
1.5%
Shareholder Age
Current Age of Largest Shareholder
58.3
65.5
57.8
Parent Corporation
Average
% of Agencies Owned by Another Corporation
16.0%
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, Alli-
ance/Network or Aggregator Group
53.8%
Groups included Assurex, CIAB, andWBN.
Profile
(of Agencies in this Study Group)
Reason for Joining Franchise/Cluster/etc.
Back Office
Support
11.0%
Market Access
67.0%
Profit
Sharing
0.0%
Other
22.0%
Other included industry collaboration, sharing ideas
and benchmarking.