| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
50.5% |
39.8% |
51.4% |
| Bonds |
0.9% |
0.2% |
0.5% |
| Personal
Lines |
19.8% |
31.9% |
15.1% |
| VAS
– P&C |
1.5% |
0.3% |
0.2% |
| Contingent/Bonus |
9.4% |
11.9% |
8.4% |
| Group
Life & Health |
11.6% |
8.5% |
14.0% |
| Individual
Life & Health |
3.3% |
2.8% |
5.1% |
| VAS
– L&H |
0.1% |
0.0% |
0.2% |
| Bonus/Overrides |
0.4% |
0.7% |
0.9% |
| Investments |
1.7% |
1.9% |
2.0% |
| Miscellaneous |
0.8% |
2.0% |
2.2% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.2% |
0.2% |
0.3% |
| Net
Revenues |
98.8% |
99.8% |
99.7% |
| Expenses
(as % of Net Revenues) |
| Compensation |
65.5% |
57.4% |
66.3% |
| Selling |
3.1% |
3.5% |
2.9% |
| Operating |
12.5% |
13.3% |
11.8% |
| Administrative |
2.8% |
3.6% |
2.1% |
| Total
Expenses |
83.9% |
77.7% |
83.2% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
16.1% |
22.3% |
16.8% |
| Pro
Forma Pre-Tax Profit |
27.2% |
41.9% |
29.9% |
| Operating
Pre-Tax Profit |
4.5% |
7.8% |
5.6% |
| EBITDA |
18.4% |
24.2% |
18.7% |
| Pro
Forma EBITDA |
29.5% |
43.8% |
31.7% |
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
|
|
