| |
Average |
+25%
Profit |
+25%
Growth |
| Revenues
(% by Source) |
| Commercial
Lines |
52.7% |
48.0% |
43.8% |
| Bonds |
1.9% |
3.1% |
1.4% |
| Personal
Lines |
12.4% |
19.6% |
19.9% |
| VAS
– P&C |
0.6% |
0.8% |
0.7% |
| Contingent/Bonus |
10.1% |
14.6% |
12.3% |
| Group
Life & Health |
17.0% |
9.4% |
15.6% |
| Individual
Life & Health |
1.6% |
1.8% |
2.6% |
| VAS
– L&H |
0.2% |
0.0% |
0.4% |
| Bonus/Overrides |
1.2% |
0.1% |
2.1% |
| Investments |
1.2% |
1.4% |
1.0% |
| Miscellaneous |
1.3% |
1.3% |
0.1% |
 Total
Revenues |
100.0% |
100.0% |
100.0% |
| Brokerage
Commission Expense |
1.2% |
2.6% |
2.2% |
| Net
Revenues |
98.8% |
97.4% |
97.8% |
| Expenses
(as % of Net Revenues) |
| Compensation |
66.5% |
58.2% |
61.6% |
| Selling |
2.9% |
2.9% |
3.4% |
| Operating |
13.3% |
11.6% |
11.9% |
| Administrative |
2.4% |
1.0% |
2.0% |
| Total
Expenses |
85.0% |
73.7% |
78.9% |
|
| |
Average |
+25%
Profit |
+25%
Growth |
| Profitability
Summary |
| Pre-Tax
Profit |
15.0% |
26.3% |
21.1% |
| Pro
Forma Pre-Tax Profit |
18.8% |
33.9% |
26.8% |
| Operating
Pre-Tax Profit |
2.3% |
10.0% |
5.4% |
| EBITDA |
18.2% |
27.9% |
23.4% |
| Pro
Forma EBITDA |
20.4% |
31.8% |
23.6% |
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
|
|
