| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
47.8% |
47.4% |
56.1% |
| Bonds |
1.7% |
4.0% |
4.7% |
| Personal
Lines |
28.0% |
27.7% |
22.0% |
| VAS
– P&C |
0.2% |
0.0% |
0.0% |
| Contingent/Bonus |
10.6% |
12.0% |
10.7% |
| Group
Life & Health |
6.3% |
4.5% |
2.7% |
| Individual
Life & Health |
2.8% |
1.2% |
1.0% |
| VAS
– L&H |
0.5% |
1.4% |
0.0% |
| Bonus/Overrides |
0.4% |
0.0% |
0.0% |
| Investments |
1.3% |
1.6% |
1.8% |
| Miscellaneous |
0.4% |
0.1% |
0.9% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.2% |
0.0% |
1.1% |
| Net
Revenues |
98.8% |
100.0% |
98.9% |
| Expenses
(as % of Net Revenues) |
| Compensation |
57.9% |
45.9% |
53.1% |
| Selling |
3.9% |
3.8% |
3.7% |
| Operating |
15.6% |
13.2% |
12.2% |
| Administrative |
1.7% |
1.0% |
2.2% |
| Total
Expenses |
79.1% |
63.9% |
71.2% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
20.9% |
36.1% |
28.8% |
| Pro
Forma Pre-Tax Profit |
24.8% |
45.6% |
27.3% |
| Operating
Pre-Tax Profit |
6.4% |
17.4% |
12.8% |
| EBITDA |
23.5% |
38.1% |
32.1% |
| Pro
Forma EBITDA |
26.7% |
46.9% |
26.8% |
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
- Pro Forma EBITDA is EBITDA if discretionary expenses are eliminated (e.g. certain owner's perks/benefits), and one-time or extraordinary revenues are excluded
|
|
