2023 Best Practices Study

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

Commercial P&C Number of Validated Producers

0.5

1.1

2.3

4.3

7.6

24.7

% Male

70%

77%

93%

89%

89%

90%

% Female

30%

23%

7%

11%

11%

10%

Average New Commissions

$34,307

$35,514

$87,533

$90,362

$114,807

$162,984

Average Book Serviced

$317,314

$230,966

$633,527

$714,502

$833,085

$1,310,263

Average Compensation

$71,145

$106,626

$210,385

$235,016

$275,905

$370,920

Avg. Comp. as % of Book

17.8%

35.5%

34.9%

31.9%

32.6%

30.4%

Top 25% Avg New Commissions

$36,046

$43,404

$99,064

$111,062

$151,612

$200,747

Top 25% Average Book Serviced

$298,554

$844,436

$827,004

$996,098

$1,551,036

Personal P&C Number of Validated Producers

0.3

0.7

0.8

0.8

0.8

2.7

% Male

50%

49%

62%

47%

39%

54%

% Female

50%

51%

38%

53%

61%

46%

Average New Commissions

$33,028

$39,712

$32,831

$72,802

$65,195

$84,593

Average Book Serviced

$198,858

$215,420

$185,442

$378,773

$449,263

$611,269

Average Compensation

$59,471

$89,416

$75,921

$161,092

$139,109

$197,987

Avg. Comp. as % of Book

38.0%

42.2%

39.3%

38.9%

33.1%

30.1%

Top 25% Avg New Commissions

$47,292

$35,019

$47,719

$78,625

$102,800

$129,952

Top 25% Average Book Serviced

$322,113

$338,852

$245,673

$552,280

$456,552

$947,225

Life/Health/Financial Number of Validated Producers

0.1

0.2

0.3

0.7

1.8

8.8

% Male

33%

80%

47%

79%

93%

75%

% Female

67%

20%

53%

21%

7%

25%

Average New Commissions

$22,584

$42,561

$39,947

$71,627

$110,755

$175,461

Average Book Serviced

$110,190

$178,259

$225,346

$559,641

$883,043

$1,113,608

Average Compensation

$43,464

$118,710

$85,107

$195,594

$284,251

$334,011

Avg. Comp. as % of Book

31%

47.1%

36.8%

36.2%

34.0%

32.9%

Top 25% Avg New Commissions

$27,626

$58,958

$51,513

$103,616

$159,853

$191,968

Top 25% Average Book Serviced

$139,535

$250,777

$309,191

$708,762

$1,351,045

$1,453,216

Multi-line Number of Validated Producers

0.4

0.5

1.0

2.2

2.7

2.1

% Male

94%

83%

94%

88%

76%

80%

% Female

6%

17%

6%

12%

24%

20%

Average New Commissions

$78,000

$22,862

$73,985

$74,639

$74,506

$85,676

Average Book Serviced

$558,436

$161,696

$563,362

$671,199

$714,901

$794,133

Average Compensation

$177,608

$117,035

$210,666

$187,782

$220,811

$250,065

Avg. Comp. as % of Book

27.9%

37.7%

32.6%

32.5%

32.1%

30.6%

Top 25% Avg New Commissions

$105,150

$25,408

$86,206

$87,656

$118,227

$106,882

Top 25% Average Book Serviced

$801,684

$246,888

$810,558

$1,020,997

$1,035,790

$1,047,607

Weighted Average Producer Age

51.1

49.1

50.4

48.1

49.4

49.4

% Total Book by Producer Age: Up to age 35

6.5%

19.4%

11.0%

14.8%

12.3%

9.8%

Age 36-45

23.1%

27.5%

25.1%

30.0%

27.7%

29.8%

Age 46-55

29.7%

14.3%

26.9%

22.7%

23.6%

27.8%

Over age 55

40.8%

38.8%

37.1%

32.6%

36.3%

32.7%

Cross Category Comparison

64