| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
51.9% |
54.5% |
59.5% |
| Bonds |
2.2% |
5.1% |
2.3% |
| Personal
Lines |
24.8% |
21.3% |
17.6% |
| VAS
– P&C |
0.1% |
0.3% |
0.0% |
| Contingent/Bonus |
11.3% |
10.5% |
10.0% |
| Group
Life & Health |
5.6% |
4.2% |
6.3% |
| Individual
Life & Health |
2.5% |
1.5% |
1.7% |
| VAS
– L&H |
0.4% |
1.2% |
0.5% |
| Bonus/Overrides |
0.1% |
0.0% |
0.3% |
| Investments |
0.9% |
1.7% |
1.9% |
| Miscellaneous |
0.1% |
0.0% |
-0.2% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
0.4% |
0.0% |
0.0% |
| Net
Revenues |
99.6% |
100.0% |
100.0% |
| Expenses
(as % of Net Revenues) |
| Compensation |
55.1% |
39.9% |
53.2% |
| Selling |
3.7% |
3.7% |
3.2% |
| Operating |
14.2% |
11.7% |
12.1% |
| Administrative |
1.8% |
0.4% |
0.5% |
| Total
Expenses |
74.7% |
55.6% |
68.9% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
25.3% |
44.4% |
31.1% |
| Pro
Forma Pre-Tax Profit |
31.4% |
53.5% |
35.6% |
| Operating
Pre-Tax Profit |
7.4% |
15.3% |
5.2% |
| EBITDA |
27.7% |
45.5% |
32.4% |
| Pro
Forma EBITDA |
34.0% |
54.8% |
37.2% |
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 EBITDA is EBITDA if discretionary expenses are eliminated (e.g. certain owner's perks/benefits), and one-time or extraordinary revenues are excluded
|
|
