| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
51.8% |
46.7% |
51.2% |
| Bonds |
2.1% |
2.2% |
0.2% |
| Personal
Lines |
23.0% |
30.0% |
27.8% |
| VAS
– P&C |
0.2% |
0.2% |
0.2% |
| Contingent/Bonus |
10.4% |
15.8% |
12.9% |
| Group
Life & Health |
9.1% |
3.0% |
4.5% |
| Individual
Life & Health |
1.7% |
1.0% |
2.0% |
| VAS
– L&H |
0.0% |
0.0% |
0.0% |
| Bonus/Overrides |
0.4% |
0.0% |
0.0% |
| Investments |
1.2% |
0.7% |
0.9% |
| Miscellaneous |
0.2% |
0.3% |
0.2% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
0.8% |
0.0% |
0.5% |
| Net
Revenues |
99.2% |
100.0% |
99.5% |
| Expenses
(as % of Net Revenues) |
| Compensation |
60.0% |
50.3% |
54.0% |
| Selling |
4.4% |
4.9% |
4.8% |
| Operating |
14.6% |
15.5% |
15.2% |
| Administrative |
2.3% |
1.7% |
2.4% |
| Total
Expenses |
81.3% |
72.4% |
76.3% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
18.7% |
27.6% |
23.7% |
| Pro
Forma Pre-Tax Profit |
26.6% |
41.1% |
32.1% |
| Operating
Pre-Tax Profit |
5.8% |
8.1% |
9.8% |
| EBITDA |
21.1% |
29.8% |
26.7% |
| Pro
Forma EBITDA |
28.4% |
42.2% |
33.0% |
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
- Pro Forma EBITA is EBITA if discretionary expenses are eliminated (e.g. certain owner's perks/benefits), and one-time or extraordinary revenues are excluded
|
|
