| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
49.4% |
42.1% |
55.4% |
| Bonds |
1.8% |
3.9% |
2.0% |
| Personal
Lines |
25.6% |
29.6% |
21.0% |
| VAS
– P&C |
0.2% |
0.0% |
0.0% |
| Contingent/Bonus |
11.2% |
12.5% |
11.7% |
| Group
Life & Health |
6.5% |
5.0% |
6.3% |
| Individual
Life & Health |
2.9% |
4.2% |
1.3% |
| VAS
– L&H |
0.3% |
0.0% |
0.0% |
| Bonus/Overrides |
0.9% |
1.5% |
0.0% |
| Investments |
1.0% |
1.3% |
1.6% |
| Miscellaneous |
0.3% |
0.0% |
0.7% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.3% |
1.6% |
0.0% |
| Net
Revenues |
98.7% |
98.4% |
100.0% |
| Expenses
(as % of Net Revenues) |
| Compensation |
57.9% |
49.0% |
56.7% |
| Selling |
4.5% |
3.5% |
5.8% |
| Operating |
15.3% |
14.6% |
18.7% |
| Administrative |
1.2% |
0.7% |
1.0% |
| Total
Expenses |
78.9% |
67.9% |
82.1% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
21.1% |
32.1% |
17.9% |
| Pro
Forma Pre-Tax Profit |
28.0% |
45.0% |
27.0% |
| Operating
Pre-Tax Profit |
7.8% |
16.5% |
4.6% |
| EBITDA |
23.2% |
33.4% |
19.9% |
| Pro
Forma EBITDA |
30.1% |
46.2% |
29.0% |
Definitions:
- Pro
Forma Pre-tax Profit is Pre-tax Profit if discretionary
expenses are eliminated and all owners compensated
as employees
- Operating Pre-tax Profit is Pre-Tax Profit
excluding income from contingents, bonus and investment
income
- EBITDA is Earnings Before Interest
Taxes Depreciation
and Amortization
|
|
