25-27BPStudyCovers

Equity Ownership Shareholder Age Banding Up to age 35 Age 36-45 Age 46-55 Over age 55 Other (ESOP, Outside Investors, etc.)

2.1%

9.6%

3.5%

31.1%

46.6%

47.2%

46.7%

46.3%

42.7%

35.3%

21.7%

21.5%

20.8%

33.3%

26.4%

26.9%

32.2%

25.6%

26.6%

N/A

11.7%

19.6%

4.0%

2.8%

7.8%

1.7%

1.4%

4.9%

<$1.25M

$1.25-2.5M

$2.5-5M

$5-10M

$10-25M

$25-100M

>$100M

REVENUE BY SOURCE

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-2.5M $2.5-5M $5-10M $10-25M $25-100M >$100M

Revenue by Source (as % of Gross Revenues): Property & Casualty: Commercial Commissions & Fees

30.6%

39.7%

49.7%

54.5%

54.6%

52.4%

50.6%

Bonds/Surety

0.4%

0.3%

0.7%

1.5%

2.2%

3.1%

2.8%

Personal Commissions & Fees

61.8%

51.3%

35.4%

25.2%

19.9%

10.9%

10.5%

Contingent/Bonus

4.8%

6.3%

8.4%

8.3%

7.9%

7.3%

6.1%

Total P&C

97.5%

97.6%

94.1%

89.5%

84.6%

73.8%

70.0%

Life & Health/Financial: Group Medical Comm & Fees All Other Group Comm & Fees Individual L/H/F Comm & Fees

0.9% 0.2% 1.0% 0.0% 2.2% 0.2% 0.1%

0.5% 0.1% 1.3% 0.0% 1.9% 0.4% 0.2%

2.5% 0.3% 1.7% 0.0% 4.5% 0.8% 0.6%

6.3% 1.2% 1.2% 0.3% 8.9% 0.9% 0.7%

8.5% 3.0% 1.1% 0.7%

13.9%

11.8%

5.9% 2.4% 1.4%

7.4% 4.5% 1.8%

Bonus/Overrides

Total L&H/Financial

13.2%

23.6%

25.5%

Investment

1.4% 0.7%

1.6% 1.0%

0.7% 3.8%

Miscellaneous Gross Revenues

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

Brokerage Comm Expense

0.0%

0.9%

0.5%

0.7%

0.8%

1.2%

1.5%

Net Revenues

100.0%

99.1%

99.5%

99.3%

99.2%

98.8%

98.5%

All Other Group L/H/F Revenue: Life

20.0% 49.0% 28.5%

15.7% 24.2% 21.6%

16.1% 12.9% 44.9%

21.7% 19.0% 41.4%

15.3% 14.2% 33.5%

11.3% 11.8% 28.1% 13.9% 11.4%

12.9% 15.3% 25.1%

Disability

Dental & Vision

Retirement/Pension

0.0% 0.0% 2.5% 0.0% 0.0%

0.0%

0.1% 4.6% 1.1% 1.9%

0.0% 9.1% 3.5% 0.5% 4.8%

3.4% 9.8% 1.2% 4.6%

4.6%

Worksite/Voluntary/Supplement

15.0%

15.8%

Long Term Care

1.8%

1.3% 3.3%

0.3% 3.4%

Employee Benefits TPA

16.7%

All Other

5.2%

18.4%

17.9%

19.0%

22.5%

Total

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

This is a breakdown of commissions and fees listed under "All Other Group Life, Health, and Financial" revenues.

Cross Category Comparison

13