2024 Best Practices Study

Executive Summary

Weighted Average Shareholder Age (WASA) 54.3

Average Revenues $83,940,913

Regional Distribution

 Northeast  Midwest

16.7% 29.2% 18.8% 20.8% 14.6%

 West

 Southeast  Southwest

Corporate Structure

Average Number of Shareholders 42.5 Average Number of Agency Locations 16.8

Profile

Other 4.2%

C Corp 27.1%

LLC 25.0%

Partner ship 2.1%

S Corp 41.7%

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

Revenue Distribution (as a % of Gross Revenue)

18.2%

Contingent/ Bonus/ Overrides 7.8%

16.3%

Other 1.4%

14.4%

13.4%

12.4%

12.2%

9.8%

Commercial P&C 54.9%

Group L/H/F 25.0%

7.1%

Personal P&C 10.9%

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

Notes

Account Stratification

• Firms with over $25M in revenue have the largest percentage of revenue from Group L/H/F (25.0%) than any other revenue category and 8.4% higher than the next closest category ($10-25M). • This revenue category generates 47.6% of the Commercial P&C Business from large accounts (Revenues >$50k), the largest of any category.

Commercial P&C

Group L/H/F

 < $5K

16.1%

 Under 50 lives

29.4%

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

7.6%

 From 50-100 lives 18.0%

14.6% 14.2% 47.6%

 Over 100 lives

52.5%

 > $50K

>$25M

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