| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
54.9% |
53.2% |
63.9% |
| Bonds |
1.8% |
1.5% |
2.2% |
| Personal
Lines |
13.1% |
17.5% |
10.3% |
| VAS
– P&C |
0.8% |
0.5% |
1.3% |
| Contingent/Bonus |
8.9% |
10.5% |
9.6% |
| Group
Life & Health |
14.7% |
8.3% |
7.9% |
| Individual
Life & Health |
1.6% |
1.1% |
1.4% |
| VAS
– L&H |
0.9% |
2.7% |
0.0% |
| Bonus/Overrides |
0.8% |
0.5% |
0.1% |
| Investments |
1.6% |
1.6% |
1.6% |
| Miscellaneous |
0.9% |
2.4% |
1.7% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.3% |
1.4% |
2.7% |
| Net
Revenues |
98.7% |
98.6% |
97.3% |
| Expenses
(as % of Net Revenues) |
| Compensation |
63.5% |
56.4% |
58.0% |
| Selling |
2.8% |
2.0% |
3.0% |
| Operating |
13.0% |
11.0% |
12.0% |
| Administrative |
2.3% |
0.4% |
2.5% |
| Total
Expenses |
81.7% |
69.8% |
75.5% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
18.3% |
30.2% |
24.5% |
| Pro
Forma Pre-Tax Profit |
23.8% |
37.9% |
29.8% |
| Operating
Pre-Tax Profit |
6.6% |
17.4% |
13.0% |
| EBITDA |
21.6% |
31.2% |
27.1% |
| Pro
Forma EBITDA |
27.1% |
39.0% |
32.4% |
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
|
|
