2024 Best Practices Study

Executive Summary

Weighted Average Shareholder Age (WASA) 52.4

Average Revenues $7,343,435

Regional Distribution

 Northeast  Midwest

17.6% 17.6% 11.8% 35.3% 17.6%

 West

 Southeast  Southwest

Corporate Structure

Average Number of Shareholders 3.5 Average Number of Agency Locations 2.6

Profile

C Corp 15.7%

LLC 27.5%

Partner ship 2.0%

S Corp 54.9%

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

Revenue Distribution (as a % of Gross Revenue)

18.5%

18.0%

Contingent/ Bonus/ Overrides 7.5%

Other 1.9%

16.1%

14.1%

12.4%

11.3%

Group L/H/F 9.9%

9.4%

9.0%

Commercial P&C 56.3%

Personal P&C 24.4%

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

Account Stratification

Notes

• Agencies with $5-10M in revenue posted the second highest median Commercial P&C (12.4%) and Group L/H/F (9.4%) organic growth rates. • This revenue category generated the highest percentage of revenue from Bonds/Surety business (3.7%) of all revenue categories.

Commercial P&C

Group L/H/F

 < $5K

36.2% 11.4% 16.5% 13.3% 22.7%

 Under 50 lives

58.2%

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

 From 50-100 lives 16.6%

 Over 100 lives

25.2%

 > $50K

$5-10M

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