2014 Best Practices Study

Analysis of Agencies with Revenues Between $10,000,000 and $25,000,000

Profile (of Agencies in this Study Group)

Key Benchmarks Profile

Average Total Revenues: $15,442,007

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

11.8% 14.7% 38.2% 35.3%

14.3%

12.5% 12.5% 12.5% 62.5%

0.0%

Employee Overview

57.1% 28.6%

Producer Info

Service Staff Info

22.9% 51.4%

25.0% 25.0%

0.0%

Technology

S

62.5% 12.5% 25.0%

Insurance Carriers

Partnership

2.9%

0.0%

Appendix

LLC

22.9%

50.0%

Sole Proprietorship

0.0%

0.0%

0.0%

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

5.6

4.3

5.5

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

28,414

19,497

31,020

1.5

1.1

1.8

Agency has an ESOP

20.0%

12.5%

12.5%

% of Stock Owned by ESOP

50.9%

80.1%

27.8%

Shareholders Number of Shareholders (excluding ESOP)

9.9

7.0

8.0

High

24.0

Low

1.0

Ownership Percentage % Owned by Largest Shareholder

48.0%

49.9%

45.8%

High

100.0%

Low

10.0%

Shareholder Age

Current Age of Largest Shareholder

55.8

57.8

56.5

Parent Corporation

Average

2014 Best Practices Study

% of Agencies Owned by Another Corporation

14.7%

Description of Parent Corporation Financial Institution

Other included AAA and holding company.

Agencies with Revenues Between $10,000,000 and $25,000,000

33.3% 33.3% 33.3%

National Broker

Other

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

Other included ARM, ResourcePro, Intersure, Assurex Global, Globex, United Benefit Advisors, C2 Centric, Lionstreet and SIAA.

27.8%

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