2015 Best Practices Study

Analysis of Agencies with Revenues Between $5,000,000 and $10,000,000

AVERAGE TOTAL REVENUES: $7,242,280 Pro!le (of Agencies in this Study Group)

Key Benchmarks Profile

Revenues Expenses Profitability Employee Overview Producer Info Service Staff Info Technology Insurance Carriers Appendix

Average

Top 25% Pro!t Top 25%Growth

Population Density of Metropolitan AreasWhere Home O!ce is Located Less than 50,000 25.7%

12.5% 37.5% 12.5% 37.5% 25.0% 62.5% 12.5%

12.5% 25.0% 25.0% 37.5% 12.5% 50.0% 25.0% 12.5%

50,000 – 250,000 250,000 – 1,000,000 More than 1,000,000 Corporate Structure C

25.7% 14.3% 34.3%

17.1% 62.9%

S

Partnership

5.7%

LLC

14.3%

0.0% 0.0%

Sole Proprietorship

0.0%

0.0%

Average # of Agency Locations (Main & Branch O!ces)

3.2

2.9

2.9

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

13,569

10,995

11,894

2.3

1.0

1.0

% of Agencies with an ESOP

8.6%

25.0% 59.7%

12.5%

% of Stock Owned by ESOP

73.1%

100.0%

Shareholders Number of Shareholders (excluding ESOP)

4.1 8.0 1.0

4.2

3.4

High Low

% Owned by Largest Shareholder

56.0%

50.6%

57.5%

High Low

100.0%

20.0%

Current Age of Largest Shareholder

61.4

63.6

62.7

% of Agencies Owned by Another Corporation

12.4%

Description of Parent Corporation

Financial Institution

50.0% 25.0% 25.0%

Other included insurance company.

National Broker

Other

2015 Best Practices Study

Member of Group

Groups included Combined Agents of America, Northern United Agents Alliance, Intersure, Assurex Global, Keystone Insurers Group, Bene"ts Advisors Network, Insurors Group of Texas, PIIB, Insurors Group, New Jersey Agency Partners, Insurance & Risk Managers.

Agencies with Revenues Between $5,000,000 and $10,000,000

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

34.3%

82

Note: See page 163 for an explanation of column headings