| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
46.5% |
46.2% |
50.5% |
| Bonds |
2.1% |
0.5% |
6.3% |
| Personal
Lines |
35.7% |
40.0% |
29.1% |
| VAS
– P&C |
0.4% |
0.0% |
1.3% |
| Contingent/Bonus |
8.1% |
7.7% |
8.9% |
| Group
Life & Health |
4.2% |
3.8% |
0.7% |
| Individual
Life & Health |
1.2% |
1.0% |
1.7% |
| VAS
– L&H |
0.7% |
0.0% |
0.0% |
| Bonus/Overrides |
0.0% |
0.0% |
0.0% |
| Investments |
0.8% |
0.8% |
1.3% |
| Miscellaneous |
0.1% |
0.0% |
0.4% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
0.1% |
0.0% |
0.0% |
| Net
Revenues |
99.9% |
100.0% |
100.0% |
| Expenses
(as % of Net Revenues) |
| Compensation |
56.9% |
47.3% |
51.3% |
| Selling |
6.3% |
5.4% |
5.7% |
| Operating |
16.2% |
13.2% |
16.2% |
| Administrative |
1.4% |
0.3% |
0.5% |
| Total
Expenses |
80.7% |
66.3% |
73.7% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
19.3% |
33.7% |
26.3% |
| Pro
Forma Pre-Tax Profit |
23.8% |
39.4% |
25.1% |
| Operating
Pre-Tax Profit |
6.6% |
12.5% |
5.3% |
| EBITDA |
21.4% |
34.1% |
28.1% |
| Pro
Forma EBITDA |
26.0% |
39.9% |
27.2% |
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
|
|
