2014 Best Practices Study

Analysis of Agencies with Revenues Between $1,250,000 and $2,500,000

Profile (of Agencies in this Study Group)

Key Benchmarks Profile

Average Total Revenues: $1,879,106

Revenues

Population Density of Metropolitan AreasWhere Home Office is Located Average

Expenses

+25% Profit

+25% Growth

Profitability

Less than 50,000 50,000 – 250,000 250,000 – 1,000,000 More than 1,000,000 Corporate Structure C

35.7% 28.6% 10.7% 25.0%

16.7% 50.0% 16.7% 16.7%

50.0% 16.7%

Employee Overview

0.0%

Producer Info

33.3%

Service Staff Info

32.1% 42.9%

33.3% 33.3%

16.7% 16.7%

Technology

S

Insurance Carriers

Partnership

0.0%

0.0%

0.0%

Appendix

LLC

25.0%

33.3%

66.7%

Sole Proprietorship

0.0%

0.0%

0.0%

Average Number of Agency Locations (Main Offices and Branch Offices)

1.8

2.0

2.2

Total Square Footage of Office Space # of States in which Offices are Located

5,154

4,433

6,040

1.0

1.0

1.0

Agency has an ESOP

0.0%

0.0%

0.0%

% of Stock Owned by ESOP

0.0%

0.0%

0.0%

Shareholders Number of Shareholders (excluding ESOP)

2.1 6.0 1.0

1.6

1.8

High

Low

Ownership Percentage % Owned by Largest Shareholder

77.4%

77.7%

83.7%

High

100.0%

Low

47.0%

Shareholder Age

Current Age of Largest Shareholder

51.9

53.5

44.8

Parent Corporation

Average

2014 Best Practices Study

% of Agencies Owned by Another Corporation

3.7%

Description of Parent Corporation Financial Institution

Agencies with Revenues Between $1,250,000 and $2,500,000

100.0%

National Broker

0.0% 0.0%

Other

Member of Group

Other included The Iroquois Group, Georgia Agency Partners, Inc., North American Insurance Brokers, Select Prism, Combined Agents of America, Memphis Insurance Group, and Secure Risk/Shared Agency Services.

% of Agencies Belonging to a Franchise, Cluster, Alliance/Network or Aggregator Group

53.6%

30