| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
55.7% |
47.2% |
60.8% |
| Bonds |
3.4% |
2.9% |
5.3% |
| Personal
Lines |
10.9% |
21.1% |
3.9% |
| VAS
– P&C |
2.2% |
2.7% |
1.9% |
| Contingent/Bonus |
7.1% |
7.9% |
6.3% |
| Group
Life & Health |
15.1% |
13.6% |
14.6% |
| Individual
Life & Health |
0.7% |
1.0% |
0.8% |
| VAS
– L&H |
0.6% |
0.0% |
1.3% |
| Bonus/Overrides |
0.4% |
0.3% |
0.3% |
| Investments |
2.5% |
2.1% |
2.5% |
| Miscellaneous |
1.3% |
1.1% |
2.3% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
3.5% |
2.0% |
3.4% |
| Net
Revenues |
96.5% |
98.0% |
96.6% |
| Expenses
(as % of Net Revenues) |
| Compensation |
63.6% |
58.0% |
64.9% |
| Selling |
4.3% |
3.6% |
5.2% |
| Operating |
14.7% |
13.0% |
15.4% |
| Administrative |
2.6% |
1.7% |
2.0% |
| Total
Expenses |
85.2% |
76.3% |
87.6% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
14.8% |
23.7% |
12.4% |
| Pro
Forma Pre-Tax Profit |
18.2% |
27.2% |
16.9% |
| Operating
Pre-Tax Profit |
4.5% |
13.1% |
3.0% |
| EBITDA |
18.6% |
26.4% |
16.1% |
| Pro
Forma EBITDA |
22.0% |
29.4% |
20.6% |
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
|
|
