| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
48.5% |
48.1% |
54.9% |
| Bonds |
0.6% |
0.3% |
0.2% |
| Personal
Lines |
35.9% |
40.0% |
30.7% |
| VAS
– P&C |
0.1% |
0.0% |
0.0% |
| Contingent/Bonus |
7.2% |
3.7% |
7.3% |
| Group
Life & Health |
4.2% |
3.8% |
3.0% |
| Individual
Life & Health |
1.7% |
2.4% |
2.9% |
| VAS
– L&H |
0.6% |
0.0% |
0.0% |
| Bonus/Overrides |
0.0% |
0.0% |
0.0% |
| Investments |
0.6% |
0.3% |
0.4% |
| Miscellaneous |
0.6% |
1.4% |
0.6% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
0.5% |
0.0% |
0.1% |
| Net
Revenues |
99.5% |
100.0% |
99.9% |
| Expenses
(as % of Net Revenues) |
| Compensation |
52.7% |
38.7% |
48.1% |
| Selling |
5.7% |
5.0% |
6.2% |
| Operating |
15.9% |
11.2% |
12.6% |
| Administrative |
1.4% |
0.3% |
2.0% |
| Total
Expenses |
75.6% |
55.1% |
69.0% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
24.4% |
44.9% |
31.0% |
| Pro
Forma Pre-Tax Profit |
29.4% |
52.7% |
32.1% |
| Operating
Pre-Tax Profit |
16.5% |
41.0% |
23.3% |
| EBITDA |
26.2% |
43.5% |
33.8% |
| Pro
Forma EBITDA |
33.0% |
55.7% |
35.0% |
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
|
|
