2024 Best Practices Study

Executive Summary

Weighted Average Shareholder Age (WASA) 55.8

Average Revenues $3,795,352

Regional Distribution

 Northeast  Midwest

13.9% 30.6% 11.1% 27.8% 16.7%

 West

 Southeast  Southwest

Corporate Structure

Average Number of Shareholders 2.3 Average Number of Agency Locations 2.6

Profile

C Corp 22.2%

LLC 11.1%

S Corp 66.7%

Organic Growth in Net Commissions & Fees (excluding contingents, bonuses & overrides)

Revenue Distribution (as a % of Gross Revenue)

Contingent/ Bonus/ Overrides 8.7%

18.4%

Other 2.3%

14.9%

14.7%

14.1%

11.7%

10.7%

Group L/H/F 6.9%

9.8%

Commercial P&C 51.3%

Personal P&C 30.8%

0.8%

Total Agency

Commercial P&C

Personal P&C

Group L/H/F

Median

Top Quartile

Note : Commercial P&C includes Bonds/Surety. Group L/H/F includes Group Medical, All Other Group, and Individual L/H/F .

Revenue and Growth

Account Stratification

Notes

• BPS Firms in this revenue category posted the highest organic growth in Commercial P&C of all revenue categories (14.1%). • Firms in the $2.5-5M revenue category generate over 80% of their revenues from Commercial and Personal Property and Casualty business.

Commercial P&C

Group L/H/F

 < $5K

39.9% 13.2% 16.9% 15.1% 14.9%

 Under 50 lives

67.5%

 $5K to $10K  $10K to $25K  $25K to $50K

 From 50-100 lives 17.1%

 Over 100 lives

15.4%

 > $50K

$2.5-5M

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