2014 Best Practices Study

Analysis of Agencies with Revenues Under $1,250,000

Profile (of Agencies in this Study Group)

Key Benchmarks Profile

Average Total Revenues: $810,333

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

62.1% 10.3% 17.2% 10.3%

42.9% 14.3% 28.6% 14.3%

57.1% 14.3% 14.3% 14.3%

Employee Overview

Producer Info

Service Staff Info

17.2% 69.0%

0.0%

14.3% 71.4%

Technology

S

71.4%

Insurance Carriers

Partnership

0.0%

0.0%

0.0%

Appendix

LLC

10.3%

28.6%

14.3%

Sole Proprietorship

3.4%

0.0%

0.0%

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

1.3

1.0

1.6

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

2,818

2,251

1,793

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)

2.2

1.7

1.0

High

13.0

Low

1.0

Ownership Percentage % Owned by Largest Shareholder

75.5%

70.0%

91.7%

High

100.0%

Low

33.3%

Shareholder Age

Current Age of Largest Shareholder

53.0

51.2

46.0

Parent Corporation

Average

2014 Best Practices Study

% of Agencies Owned by Another Corporation

3.7%

Description of Parent Corporation Financial Institution

Other included Independent Agency.

Agencies with Revenues Under $1,250,000

50.0%

National Broker

0.0%

Other

50.0%

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

Other included Continental Insurance Agency Alliance, SIAA, Consolidated Agencies, ISU, Empire Spectrum Group, Combined Agents of America, Marketsource, TIA, Bainswest, and DCS Risk Management Group.

41.2%

4