2024 Best Practices Study

Revenue Growth

AGENCIES WITH REVENUES OF:

MEDIAN

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

Revenue Growth by Source: TOTAL COMMISSIONS & FEES Renewal Business

91.1% 14.7%

96.9% 12.1%

99.3% 11.0%

98.4% 12.5%

98.0% 13.4%

95.8% 13.8%

New Business

Acquired Business

0.0% 5.7% 5.4%

0.0%

0.0%

0.0%

0.0%

0.0%

Total Growth

11.4% 11.4%

12.1% 11.7% 21.3% 12.1% 11.7% 10.0%

11.3% 11.3%

11.3% 10.4% -7.3% 11.3% 10.4% 10.3%

11.8%

Organic Growth

9.8% 8.9%

Brokerage Commission Expense Net Commissions and Fees Total Growth

-51.0%

6.1%

4.4%

5.7% 5.4% 6.4% -6.3% 20.0% 14.0%

11.4% 11.4%

11.3% 11.3% 10.8%

11.8%

Organic Growth

9.8%

2023 BPS Organic Growth

8.7%

10.8%

P&C Contingent Income L/H/F Bonus Income Investment Income Miscellaneous Income

-8.1% 0.0%

-0.3% 17.2%

9.3% 0.0%

1.1% 0.4% 5.8%

4.8%

13.4%

-37.1% 47.7%

9.0%

11.3% 46.1%

8.8%

6.2%

57.5%

12.4%

12.1%

NET REVENUE TOTAL GROWTH NET REVENUE ORGANIC GROWTH

5.8% 5.6%

9.6% 9.6%

11.9% 10.8%

11.6% 11.4%

12.5% 12.2%

12.8% 11.8%

AGENCIES WITH REVENUES OF:

TOP QUARTILE

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

Renewal Business

97.4% 16.7%

100.4%

102.6%

101.7%

102.1%

98.7% 18.0%

New Business

21.4%

17.3%

16.6%

16.9%

Acquired Business

0.0%

0.0%

0.0%

0.0%

0.3%

2.4%

Total Growth

13.0% 12.0% -11.6% 13.2% 12.1% 10.9%

16.1% 16.1% 40.5% 16.1% 16.1% 15.9%

17.8% 14.7%

16.5% 16.3% 38.3% 16.3% 16.1% 16.8% 30.9% 21.2% 21.5% 71.0% 17.4% 16.5%

17.0% 16.2% 11.5% 16.9% 15.6% 14.2% 19.4% 12.4% 26.1% 48.0% 18.7% 17.8%

16.3% 14.6% 30.0% 16.4% 14.4% 14.5% 15.9% 23.7% 30.1% 72.1% 19.6% 15.9%

Organic Growth

Brokerage Commission Expense Net Commissions and Fees Total Growth

115.3%

17.4% 14.7% 13.0% 18.0% 17.2% 14.2% 84.2% 17.0% 16.1%

Organic Growth

2023 BPS Organic Growth

P&C Contingent Income L/H/F Bonus Income Investment Income Miscellaneous Income

5.7%

20.5%

20.0% 17.6% 26.3%

0.0%

-32.2% 209.5% 15.7% 15.7%

NET REVENUE TOTAL GROWTH NET REVENUE ORGANIC GROWTH

11.1%

9.9%

Note: The Median is the mid-point in a list of data – it is different than the Mean or Average. Median data cannot be added/subtracted to arrive at related Medians. Each data point presented above (Renewal Business %, New Business %, Total Growth %, Organic Growth %, etc.) must be viewed as a discrete Median data point.

Cross Category Comparison

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