| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
49.8% |
43.7% |
56.6% |
| Bonds |
2.5% |
2.6% |
5.5% |
| Personal
Lines |
25.7% |
38.0% |
21.8% |
| VAS
– P&C |
0.2% |
0.0% |
0.2% |
| Contingent/Bonus |
10.4% |
9.1% |
11.1% |
| Group
Life & Health |
7.6% |
3.0% |
2.6% |
| Individual
Life & Health |
1.3% |
1.4% |
0.2% |
| VAS
– L&H |
0.0% |
0.0% |
0.0% |
| Bonus/Overrides |
0.0% |
0.0% |
0.0% |
| Investments |
1.1% |
0.9% |
1.0% |
| Miscellaneous |
1.0% |
1.1% |
1.0% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
0.9% |
1.4% |
0.2% |
| Net
Revenues |
99.1% |
98.6% |
99.8% |
| Expenses
(as % of Net Revenues) |
| Compensation |
56.4% |
50.4% |
51.4% |
| Selling |
4.1% |
5.4% |
4.4% |
| Operating |
13.9% |
13.2% |
13.4% |
| Administrative |
4.8% |
7.5% |
3.8% |
| Total
Expenses |
79.2% |
76.5% |
73.0% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
20.8% |
23.5% |
27.0% |
| Pro
Forma Pre-Tax Profit |
31.2% |
42.6% |
30.6% |
| Operating
Pre-Tax Profit |
8.9% |
13.2% |
14.9% |
| EBITDA |
23.2% |
25.7% |
29.3% |
| Pro
Forma EBITDA |
33.5% |
44.8% |
32.9% |
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
|
|
